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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?


To: taxman who wrote (68993)10/12/1999 3:13:00 PM
From: AurumRabosa  Respond to of 132070
 
Depends what kind of stock they have but the laws restricting insider sales are not hard to find. Here's a couple of good legal references to begin your research:
law.uc.edu
seclaw.com



To: taxman who wrote (68993)10/12/1999 3:14:00 PM
From: Knighty Tin  Respond to of 132070
 
Taxman, I wish I was more up on this. Nothing prohibits the sale of all of Dell's shares, but there is a level at which it is necessary to offer it in a secondary with a prospectus instead of on the open market. Which would require disclosing the sale ahead of time instead of after the sale, as he can do with smaller share amounts.



To: taxman who wrote (68993)10/12/1999 3:15:00 PM
From: IceShark  Respond to of 132070
 
SEC. I believe it is no more than 1% of the issued and outstanding, per head.



To: taxman who wrote (68993)10/12/1999 10:19:00 PM
From: Thomas M.  Respond to of 132070
 
Rules say that, per quarter, insiders cannot sell more than 1% of the shares outstanding or more than the average weekly reported volume in the stock for the previous four weeks.

forbes.com

By my count, Michael Dell has sold somewhere around 20% of his holdings over the past year. That must be a really big pool he's building. <g>

Tom