Below is a summary of insider holdings of TIBX, taken from their SEC filing.
Draw your own conclusions, of course, but I don't see many of these entities having
a strong reason to rush to sell their shares.
Reuters and Cisco, with combined ownership of 74% of outstanding shares, would be
shooting themselves in the foot (feet?) if they were to rush to sell any large blocks.
Ditto the CEO and directors. That leaves Mayfield holdings, with a few million shares
they may want to cash out of, but the net effect of that should be minor when offset
by additional institutional interest generated by increased availability of shares.
IMHO, all this has already been MORE than factored into TIBX's price.
Percent of Ownership
Shares -------------------------
Beneficially Before After
Name Owned Offerings Offerings
---- ------------ ---------- ----------
<S> <C> <C> <C>
Reuters Group PLC and related
entities (1)
85 Fleet Street
London, EC4P 4AJ................... 37,976,096 74.9% 64.6%
Cisco Systems, Inc.
170 West Tasman Drive
San Jose, CA 95134................. 4,365,000 8.6 7.4
Mayfield Fund (2)
2800 Sand Hill Road
Menlo Park, CA 94025............... 2,861,316 5.6 4.9
Vivek Y. Ranadive (3)............... 4,058,125 7.5 6.5
Paul G. Hansen (4).................. 120,000 * *
Robert P. Stefanski (5)............. 86,721 * *
Richard M. Tavan (6)................ 158,999 * *
Rajesh U. Mashruwala (7)............ 115,624 * *
Christopher G. O'Meara (8).......... 46,625 * *
Douglas M. Atkin.................... -- -- --
Yogen K. Dalal (9).................. 2,877,983 5.7 4.9
Edward Kozel (10)................... 4,398,333 8.7 7.5
Donald J. Listwin (11).............. 4,365,000 8.6 7.4
Larry W. Sonsini (12)............... 33,333 * *
John G. Taysom...................... -- -- --
Phillip E. White (13)............... 135,832 * *
Philip K. Wood ..................... -- -- --
All directors and executive officers
as a group (14 persons) (14)....... 16,396,525 30.0 26.2
</TABLE>
61
<PAGE>
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*Less than one percent.
(1) Represents shares held by Reuters Nederland B.V. Includes 5,726,096 shares
reserved for sale to employees and consultants of TFT pursuant to the
exercise by such employees and consultants of purchase rights granted or
to be granted to them by Reuters. Subsequent to May 31, 1999, we granted
Reuters an option to purchase 150,000 shares of our common stock under our
director stock option plan. Reuters has agreed to limit its voting power
such that the votes cast by Reuters will not represent more than 49% of
the total votes eligible to be cast in any matter submitted to a vote of
our stockholders.
(2) Includes 2,718,250 shares held by Mayfield IX and 143,066 shares held by
Mayfield Associates Fund III.
(3) Includes 3,641,458 shares subject to options exercisable within 60 days of
May 31, 1999. Excludes 75,000 shares subject to our right of repurchase
and 99,375 shares that are subject to options that are unvested but
exercisable within 60 days of May 31, 1999.
(4) Includes 82,307 shares subject to options exercisable within 60 days of
May 31, 1999. Excludes 769 shares subject to our right of repurchase and
366,731 shares that are subject to options that are unvested but
exercisable within 60 days of May 31, 1999.
(5) Includes 21,721 shares subject to options exercisable within 60 days of
March 31, 1999. Excludes 5,000 shares subject to our right of repurchase
and 157,945 shares that are subject to options that are unvested but
exercisable within 60 days of May 31, 1999.
(6) Includes 9,000 shares subject to options exercisable within 60 days of May
31, 1999. Excludes 141,000 shares subject to our right of repurchase and
41,000 shares that are subject to options that are unvested but
exercisable within 60 days of May 31, 1999.
(7) Excludes 196,875 shares subject to our right of repurchase exercisable
within 60 days of May 31, 1999.
(8) Consists of 46,625 shares subject to options exercisable within 60 days of
May 31, 1999. Excludes 140,875 shares subject to options that are unvested
but exercisable with 60 days of May 31, 1999.
(9) Includes 16,667 shares subject to options exercisable within 60 days of
May 31, 1999. Also includes 2,718,250 shares held by Mayfield IX and
143,066 shares held by Mayfield Associates Fund III. Mr. Dalal disclaims
beneficial ownership of all shares except to the extent of his pecuniary
interest in the partnerships.
(10) Consists of 33,333 shares subject to options exercisable within 60 days of
May 31, 1999. Also includes 4,365,000 shares held by Cisco Systems, Inc.
Mr. Kozel, one of our directors, is a member of the board of directors of
Cisco Systems and disclaims beneficial ownership of all shares held by
Cisco Systems.
(11) Includes 4,365,000 shares held by Cisco Systems, Inc. Mr. Listwin, one of
our directors, is an executive officer of Cisco Systems and disclaims
beneficial ownership of all shares held by Cisco Systems.
(12) Includes 33,333 shares subject to options exercisable within 60 days of
May 31, 1999.
(13) Includes 48,279 shares subject to options exercisable within 60 days of
May 31, 1999. Excludes 117,575 shares subject to our right of repurchase
and 146,592 shares subject to options that are unvested but exercisable
with 60 days of May 31, 1999.
(14) Includes 3,932,723 shares subject to options exercisable within 60 days of
May 31, 1999. Excludes 418,644 shares subject to our right of repurchase
and 952,518 options that are unvested but exercisable within 60 days of
May 31, 1999.
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