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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: Keith J who wrote (7038)1/31/1998 10:25:00 PM
From: Don Earl  Read Replies (2) of 27307
 
Hi Keith,

If I'm reading the S3 correctly it prohibits the sellers from offering the stock for sale until all the necessary amendments have been filed. It looks like the last one, refering to the 1.5 million shares, hit the SEC on Jan 22. I'm assuming these shares didn't start going to market until about a week ago. I'm guessing that the other 850K shares could have started selling on the 12th.

It also states that the intent of the sellers is to distribute the shares over a period of time up to Oct 98.

From what I understand most form 4s are not filed electronically and insiders have 30 days after the sale to file. If insiders have been dumping in January, we probably won't know about it until the middle of next month. I don't remember the details but I believe there is a limit on how much stock insiders can buy/sell in a given week. If my memory serves me correctly it's based on a percentage of the average daily volume. I also seem to recall that insiders on IPOs are required to hold their shares for a period of time before being allowed to start selling. I think it's 18 months but I'm not sure. I've noticed that the charts on IPOs can get pretty ugly looking at about the 1 1/2-2 year point.

My knowledge of SEC rules is pretty basic and there are a lot of big gaps in that knowledge. Feel free to correct any misconceptions that may be included in this post.

Regards,

Don
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