Hi Madafas,JBN,Laura and Thread,
This is from:
+Platter Wednesday, Jan 6 1999 9:37AM ET
Reply # of 87968
DELL COMPUTER CORP. - DELL -- Insider selling at Dell Computer has always been eye-catching, and recent months are no exception. From September 1 through November 23, no less than sixteen Dell insiders sold or indicated sales totaling 13,485,906 shares at from $56 to $66 per share. The heaviest volume occurred in November, where indications stand at over 8.8 million shares sold. Gauging insider sales at Dell against past years can be tricky. This is a result of the many stock splits the company's shares have undergone (five two-for-one's since 1995 alone). Consequently, at-a-glance comparisons of today's sales to past years' often shock the casual observer when, in reality, the number of shares sold are not really anomalous. Having said this, it is unwise to ignore subtle, real changes that may occur. Director Michael Miles (58), former Chairman and CEO of Philip Morris, indicated a planned sale of 20,000 shares. Miles, a filler at Dell since '95, had previously only bought in the open market (most recently in March '97). Vice President Jerome Gregoire filed his intention to sell 28,000 shares. A filing insider since '96, Gregoire began selling for the first time in August, and has since cleared out of 139,463 shares-34% of his actionable holdings. Director Claudine Malone has been on the board since '93. A seasoned insider, Malone has served on no less than nine other boards in her career. In no instance has she amassed near the holdings she has at Dell. Starting last June, she began exercising Dell options at a much more aggressive pace than in prior years. In September, her most active month, she exercised options for 278,400 shares and sold 220,800 of the shares acquired. Although she retained some of the shares, increasing her common holdings to 177,600, the disposition of the vast majority of her vested options resulted in a reduction of almost 50% of actionable holdings. Taken together, these sales are far more interesting to us than the over 12 million shares sold for the period by Michael Dell himself. Believe it or not, Dell's sales are not out of his historical patterns, and cannot be considered significant. Especially by virtue of the fact that he owns almost 200 million of the company's shares.
from CDA
Regards,
QT
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