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Technology Stocks : Data Broadcasting Corp. (DBCC)
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To: Douglas V. Fant who wrote (4632)2/10/1999 12:52:00 PM
From: Rajiv  Read Replies (1) of 5102
 
I know this has been discussed in the past and has been portrayed as a hype-job by shorts.

The DBCC insider selling (IMHO) has been massive. There are widespread misconceptions among investors about the topic of insider selling..

From the insidertrader.com FAQ

Technically, a Form 144 only indicates that the holder of restricted securities is now able to sell them. There is nothing about the Form that forces a sale.

In practise, however, the Form is just another annoying piece of paperwork, and insiders don't file it until they need to. The shares indicated on a Form 144 are usually sold soon after it is filed. If the holder of the restricted shares is an insider (which is not always the case), you will likely see a Form 4 sale in short order.

Besides being quite detailed, a Form 4 is also timely. With the deadline for filing being the 10th of the month following the transaction, an insider's trade should take 41 days tops to reach the SEC—and that's only if the insider trades during a 31-day month. Form 4s can, of course, be filed immediately, and some are. However, there is always a predictable bulge in the number of filings around the 10th of the month as insiders rush to meet the deadline.

Regards.
Rajiv
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