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Technology Stocks : All About Sun Microsystems

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To: Charles Tutt who wrote (45822)	10/8/2001 11:31:45 AM
From: DiViT	Read Replies (1) of 64865

Insiders: Sun, Nvidia execs exercise options BY DAN LEE Mercury News Executives from Sun Microsystems and Nvidia were among a handful of Silicon Valley insiders to exercise options and sell stock in their companies for multimillion-dollar gains in August. Sun Chairman and Chief Executive Scott McNealy exercised options to buy 929,088 shares of the Palo Alto maker of network servers and software for 74 cents apiece on Aug. 7, according to Thomson Financial/First Call. The same day, he sold those shares for $17.03 each, for a net gain of more than $15.1 million. Other insiders selling at Sun included Chief Technology Officer Gregory Papadopoulos, who had a net gain of $2.2 million from exercising options and selling Sun stock, according to the report. Chief Financial Officer Michael Lehman had a net gain of about $1.6 million. Sun spokeswoman Elizabeth McNichols said McNealy's options were about to expire. She declined to comment further on the transactions. The move leaves McNealy with more than 55 million Sun shares. On Friday, Sun announced it would cut about 3,900 jobs and lowered its earnings outlook, blaming the effects of the Sept. 11 terrorist attacks and the continued weak economy. Sun shares were up 58 cents Friday to close at $9.87. Continued... siliconvalley.com

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