Alien , and also to Barb Payne... re:insider trading.
I do not really know why the PS exec's and directors are always selling and buying. However, what makes sense is this - and it has been stated and posted here more than once.
They all have options which come due from time to time and they need to sell. There are tax considerations. They also re-purchase shares.
Now, Ken Morris was mentioned. Ken co-founded PS with Dave (Dave and Ken both came from Integral Systems). PS is really Dave's baby, but Ken was his first chief architect and developer who brought the initial vision of a client/server HRMS into reality. Ken's most recent title I am aware of was Senior Vice President of Technology. As long as two years ago, I noticed Ken seemed to be taking a less prominent role. As PeopleSoft has grown and developed new management, Ken is not one of the people in front of the clients at Conferences, etc. If oyu have copies of 10-K (or is it Q), you will see Ken listed as one of the key officers and directors and his shares, etc. For the last year or two I believe, his name is missing and yet he holds a very significant number of shares.
In 1997, I wanted to find out just what his role was and what had changed, but never got around to it. I plan to find out at this year's user conference (Nov 1-5, San Fran.). I have heard he owns a place in the Napa Valley and once I thought I heard a comment about wine. He may have other interests and the success of PeopleSoft is allowing him to pursue those interests. Perhaps he is taking more of a back-seat, advisory role at PeopleSoft. If this is true, it might explain the higher degree of sales on his part. Both he and Dave have trusts and foundations, so maybe shares are being transferred in some way.
Who knows? All I am sure of is that Ken and others are not selling to get their money ouot before the company comes crashing down as some have expressed fears of on this thread in the past.
Anyone who can shed any light on Ken Morris - without getting personal - please post and let us know. I would like to know because he has been a very key person in the organization. We all know the axiom about no one being irreplaceable, and PS has many many talented people to carry on.
In closing, something must have happened with Ken because if he was still a Sr. VP, with his amount of stock, he would HAVE to be listed in the 10-Q (or K or whatever - you all know what I mean).
Looking forward to feedback, clarifications, being corrected, etc.
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