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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Dan3 who wrote (162416)	3/17/2002 10:30:11 PM
From: puborectalis	Respond to of 186894

Insiders: Intel executives cash in during stock's high By Dan Lee Mercury News Top executives at Intel exercised options and cashed in company stock for multimillion-dollar gains in January, shortly after the chip maker's stock hit a 52-week high. Intel Chief Executive Officer Craig Barrett sold stock worth $15.08 million. From Jan. 28-31, Barrett exercised options to buy 544,000 Intel shares for $1.63 apiece, according to Thomson Financial/First Call. He then sold 444,000 shares for prices ranging from $33.15 to $34.52 apiece. Intel Senior Vice President and General Counsel F. Thomas Dunlap exercised options to buy 192,000 shares for $5.71 each Jan. 18. He then sold those shares for $33.87, for a net gain of $5.41 million. Those shares were indirectly held in a trust for Dunlap and his spouse, according to a Securities and Exchange Commission filing. Executive Vice President Michael Splinter exercised options on Jan. 30 for 102,784 Intel shares at $1.63 each, according to Thomson Financial/First Call. He sold those shares for $33.25 each, for a net gain of $3.25 million. Also at Intel, Chairman Andrew Grove made an open-market sale of 300,000 company shares Jan. 22 at prices ranging from $31.75 to $32.04 in a transaction totaling $9.56 million. Grove held those shares indirectly in a trust for himself and his spouse, according to an SEC filing. He did not exercise any options in January. Intel spokesman Chuck Mulloy said some of the executives exercised options in January because those options were about to expire. In all, seven Intel executives sold about 1.25 million company shares in January, the largest group sale by company insiders in two years, according to Thomson Financial's Lancer Analytics Division. The Santa Clara company's stock almost doubled late last year and in early 2002, rising from a low of $18.96 Sept. 21 to a 52-week high of $36.78 on Jan. 9. Like the stocks of many companies, Intel's fell sharply after the terrorist attacks of Sept. 11. Shares of the chip maker closed at $31.74 Friday, up 77 cents. Kevin Schwenger, research analyst for Lancer Analytics, said the flurry of selling is understandable. ``While we always like to see buying by insiders, the fact that these Intel execs decided to exercise some options and sell while the stock was at a 52-week high isn't all that surprising,'' he said. Schwenger said Intel's stock gained an average of 22 percent in the six months following Grove's previous 11 sales and Barrett's eight open-market sales. January's transactions leave Barrett with 2.84 million Intel shares and 4.96 million unexercised options and Grove with 7.79 million company shares and 3.92 million unexercised options. Stock-option holders have the right to sell their company's stock at a set price. For many executives, stock options provide the bulk of their compensation.