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Technology Stocks : Thrustmaster (NASDAQ:TMSR) -- Ignore unavailable to you. Want to Upgrade?

To: Smilodon who wrote (2389)	10/8/1999 12:38:00 PM
From: Pete Mason	Read Replies (1) \| Respond to of 2443

Help! I'm trying to reconcile these two tables, dealing with TMSR ownership. Here's from their proxy, filed approx Sep 1, containing material apparently from May in some cases. NAME AND ADDRESS OF BENEFICIAL OWNER(1) OWNED(2) OWNED(2) ---------------------------------------------------------------------------------------- ----------- ------------- <S> <C> <C> C. Norman Winningstad(3)..................482,360.........9.8 Sawtooth Capital Management, L.P.(4)......448,400.........9.2 G. Gerald Pratt(5)........................429,348.........8.7 Robert A. Simms, Sr.(6)...................242,850.........5.0 55 RAILROAD AVE. GREENWICH, CT 06830 Milton R. Smith(7)........................281,642.........5.7 Robert L. Carter(8).......................258,835.........5.3 Frank G. Hausmann(9)......................190,000.........3.7 G. Edward Brightman(10)...................107,774.........2.2 Frederick M. Stevens(11)...................34,458.........* Graham E. Dorland(12)......................32,200.........* General Merrill A. McPeak(13)..............25,600.........* David A. McFeeters-Krone(14)....................0.........* Robert B. Smart(15).............................0.........* All Executive Officers and Directors as a group (11 persons)(16)........................ 1,842,217 34.0 (and various footnotes explaining that practically all of the "stock owned" by corporate officers are actually options) Then here's the table from marketguide.com Top Institutional Holders Rank Institutional Name Report Date Position 1 DIMENSIONAL FUND ADVISORS INC 06/30/99................152,400 2 STROME, SUSSKIND INVESTMENT MANAGEMENT L.P. 06/30/99...83,924 3 HBK INVESTMENTS, L.P. 06/30/99.........................50,000 4 DRIEHAUS CAPITAL MANAGEMENT, INC. 06/30/99.............41,977 5 BARCLAYS BANK PLC 06/30/99.............................29,102 6 VANGUARD GROUP, INC. (THE) 06/30/99....................24,800 7 SIMMS CAPITAL MANAGEMENT, INC. 06/30/99................24,260 8 RS INVESTMENT MANAGEMENT, L.P. 06/30/99................20,000 9 DUNCAN-HURST CAPITAL MANAGEMENT 06/30/99...............13,810 10 NICHOLAS-APPLEGATE CAPITAL MANAGEMENT INC. 06/30/99...12,500 Are these two tables really reporting on the same thing?? Or are there differences between "Beneficial Ownership" (the top table) versus "Institutional Ownership"?? I kind of assumed that Institutional Ownership would be a subset of Beneficial Ownership, but apparently not... I'm a bit confused (obviously!) because these two tables either are largely unrelated, or things have really gone topsy-turvy in the past couple of months... Any help out there?? Thankx, -- Pete

To: Smilodon who wrote (2389)	10/11/1999 3:14:00 PM
From: Pete Mason	Respond to of 2443

It begins... new round of insider selling. biz.yahoo.com Only two guys so far, one for 30,000 and one for 16,481(?!?), both filed in Sept. The 30K guy still will hold approx 200K (plus various options) so he's really not selling much, and the 16K guy will still hold... hmmm, this is interesting. The TMSR proxy from early Sept states this guy has 107,774 beneficially owned shares and that number "Includes 103,990 shares subject to options exercisable within 60 days after August 16, 1999," so that guy only ever owned 3784 shares in the first place, so he has obviously exercised some of these options which just came in. Not a large amount of selling, in the grand scheme of things, but still I like to see it! -- Pete

To: Smilodon who wrote (2389)	10/11/1999 3:21:00 PM
From: Pete Mason	Read Replies (1) \| Respond to of 2443

Oh yeah, one other thing... a possible trigger for TMSR's stock price collapse?? From that proxy again: "The Company entered into agreements with each of its employees that it is terminating to evidence this policy. As a result of this policy and the Company's stock option plans, an aggregate of 403,645 options of the Company will accelerate and become fully vested upon the consummation of the Sale and the termination of certain employees of the Company." The sale is, uh, "consummated" now as we've heard five times, so as these employees get the axe, these options get vested. 403,645 shares! That's a ton when your average trading volume is what, 40K?, and the entire float is (was) 2.5M shares! Seems to me that's a ton of likely near-term sales, yet the stock hasn't dropped in anticipation of all that selling. Am I missing something?? Maybe the options which become vested aren't necessarily owned by the dearly departed?? Maybe it's an excuse to fully vest some options held by people NOT leaving?? -- Pete