Ron Schmidt, board member and founder, bot $2.16mm of BAY stock.
He did so by exercising 155,000 options @ $16/share. 135,000 of those
options were non-qualified which means he has to pay taxes on that
transaction. This could be as much as $700,000 in taxes. So,
if that estimate of his taxes is correct, he shelled out a total
of $2.8mm or so when the stock was $30 a share last month.
Most importantly, after shelling out the bucks, he did not
subsequently sell the stock, which would indicate a positive
outlook form this insider.
Not only that, Paul Severino, also a board member and founder,
did the same thing with 22,000 options exercised @ $16 when the stock
was around $30. Hard to believe when people today can buy @ <$23.
Hey Cruiser:
How is the current tone of business in the current quarter? |
