Tip, the shares are held indirectly, which means via something like a a corporation, a foundation or a trust. I assume that, if Moore likes to donate to charities, the shares are being held in a foundation or trust. To satisfy IRS requirements, at least, a donation of property to a foundation or trust must be irrevocable, and the donor cannot retain a beneficial interest in the donated property. I am assuming that Moore retains control of the shares, but he can't benefit from them, the benefit goes to the trust or foundation.
I base my assumption on the following: on October 30, 1998, the Moore Family Foundation sold 100,000 shares:
biz.yahoo.com
Coincidence? I think not.
CobaltBlue |
