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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Kent Rattey who wrote (1129)	9/29/1999 9:38:00 PM
From: Kent Rattey	Read Replies (3) \| Respond to of 24042

ottawacitizen.com JDS brass awash in gold Insiders sell $164 million in stock Bert Hill The Ottawa Citizen The spectacular performance of JDS Uniphase Inc. has generated a $163- million U.S. payday for the fibre-optic company's top executives and directors. New insider trading information shows that chief operating officer Jozef Straus and chief executive officer Kevin Kalkhoven each sold almost $24 million U.S. in stock last month. In total 31 officers, directors and insiders sold stock, including 29 people who sold more than $1 million in stock. Four of the stock sellers are people who joined the company less than two years earlier. Despite the big windfall, the JDS insiders left a lot of money on the table because the company has continued to soar on stock markets. The shares closed at $112 U.S. yesterday, 40 per cent higher than the selling price of $80 U.S. in early August. Senior vice-president Tony Muller said that despite the seemingly large sales, none of the officers sold more than 15 per cent of his or her current holdings and options. He said the merger negotiations surrounding the creation of the company prevented insiders from selling stock for more than seven months. He said there are no regrets at missing the current prices that JDs is commanding. "We are happy for the new shareholders of the company." JDS Uniphase is the dominant producer of lasers, accelerators and other gear telephone companies need to speed the traffic created by the Internet and corporate networks. Strong demand for JDS gear has pushed the stock price a startling 222 per cent higher this year. The big increase has lifted JDS into a league of its own compared with better-known names. JDS has a stock price-to-earnings-per-share ratio of 164 compared with 95 for Cisco, 56 for Lucent and 42 for Nortel. Mr. Straus was a founder and chief executive of JDS Fitel of Nepean which merged with Uniphase Corp. of San Jose headed by Mr. Kalkhoven in early summer. The combined company is headquartered in San Jose and does much of its development and assembly work in Nepean. The insider stock selling was part of major share offering by the company that generated $603 million U.S. to finance general corporate activity. Other big winners in the stock sale include: Danny Pettit, an executive vice-president originally from Uniphase, who sold stock worth about $16 million,Zita Cobb, senior vice-president for strategy originally from JDS, who sold $15 million in stock, Mr. Muller, chief financial officer originally from Uniphase, who sold $10 million in stock, and Michael Phillips, vice-president and general counsel who joined Uniphase a year before the merger, who sold $8.5 million in stock. Joseph Ip, a vice-president originally from JDS, sold $8 million in stock. Other insiders who declared intentions to make major sales include include Gary Duck, a founder of JDS Fitel, who planned to sell $24 million in stock, and and Frederick Leonberger, chief technology officer formerly with Uniphase, with a $9-million sale. Insider selling is watched by investors for signs management feels a company stock is over-priced or the company might be headed for trouble. "We see a very bright future for the company and nobody is planning to leave, " Mr. Muller said He said the stock was sold to diversify holdings, invest in other interests and make personal purchases.