Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Dan3 who wrote (174363)	5/5/2003 6:35:57 PM
From: The Duke of URL©	Read Replies (2) \| Respond to of 186894

-------------------------------------------------------------------------------- Posted on Sun, May. 04, 2003 New Applied CEO sells Intel shares By Dan Lee Mercury News Michael Splinter heads to his new job as chief executive of Applied Materials with a recent multimillion-dollar gain from exercising options and selling shares of Intel, his previous employer. Splinter, Intel executive vice president and director of the sales and marketing group, exercised options to buy 300,416 Intel shares at prices ranging from $2.81 to $4.20 each April 21. He then sold those shares for $18.46 each, for a net gain of $4.5 million. Last week Applied Materials, the world's largest chip-equipment maker, made a surprise announcement that Splinter would replace its chief executive, Jim Morgan, when the company's longtime leader retired. Splinter joined Intel in 1984. Also at Intel, retiring Executive Vice President Leslie Vadasz -- part of the chip maker's founding team in 1968 -- picked up a multimillion-dollar gain from exercising stock options in April. The sales came on the day the company announced his retirement, which is effective June 1. Vadasz, who also heads Intel's venture capital arm, exercised options to buy 412,416 Intel shares for prices ranging from $2.81 to $4.20 each April 17, according to Thomson Financial. The same day, he sold those shares for $18.12 each, for a net gain of $6.05 million. Intel Vice President and Treasurer Arvind Sodhani exercised options to buy 201,024 shares April 21 for $2.81 each in a move totaling $564,877, according to the report. The same day, he sold 166,132 Intel shares for $18.45 in a transaction worth $3.07 million. Intel spokesman Chuck Mulloy said the options exercised by Vadasz in April were about to expire and that some of the options exercised by Splinter and Sodhani were about to expire. After the transactions, Vadasz owned 5.42 million Intel shares, Sodhani 949,869 shares and Splinter 317,400, according to Thomson Financial. Shares of Intel, the world's largest semiconductor maker, closed at $19.05 Friday. During their careers at Intel, Vadasz sold company shares on 21 occasions and Splinter on five occasions. In the six months after Vadasz's previous stock sales, Intel shares gained an average of 12 percent, according to Thomson Financial. In the six months after Splinter's previous sales, the stock fell an average of 4 percent. So far this year, Intel insiders have sold a combined $33.1 million in stock, according to Thomson Financial. Through the first half of last year, they had sold $46.12 million. Stock-option holders have the right to buy their company's shares for a set price, typically for 10 years. For many executives, stock options provide the bulk of their compensation. On April 15, the Santa Clara company reported net income of $915 million, or 14 cents a share. The result was down slightly from a year ago, but higher than the 12 cents a share analysts expected.