<< I recommend that someone call IR and find out exactly what date insider profit taking may begin. >>
I'm not sure if this is the answer your question, but I found this in the prospectus (my hightlighting added):
"Each executive officer and director and certain other shareholders of the Company have agreed with the Representatives until the later of 180 days after the effective date of the Registration Statement or the open of market on the third trading day following the date of public disclosure of the Company's financial results for the fiscal year ending December 31, 1997 (the "Lock-Up Period") not to offer to sell, contract to sell, or otherwise sell, dispose of, loan, pledge or grant any rights with respect to any shares of Common Stock, any options or warrants to purchase any shares of Common Stock, or any securities convertible into or exchangeable for shares of Common Stock owned as of the date of this Prospectus or thereafter acquired directly by such holders or with respect to which they have or hereinafter acquire the power of disposition, without the prior written consent of Robertson, Stephens & Company LLC."
(I hate legalese; that's all one sentence!) Anyway, it sounds to me like they're in lock-up until the third day after FY97 earnings. I'm not sure if this applies to shares owned by individual employees or just closely held shares not released during the IPO. Maybe someone who understands this better than I do can interpret it?
Piranha |
