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Technology Stocks : America On-Line: will it survive ...? -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (8438)	3/4/1998 8:42:00 AM
From: Sam	Read Replies (1) \| Respond to of 13594

This is on the wire, so we can all clear the air and move forward... NEW YORK, March 4 (Reuters) - America Online Inc (AOL - news) chief executive Steve Case has sold 500,000 of his shares in the company, the Wall Street Journal said Wednesday in its electronic edition. Case sold the shares last Wednesday, the newspaper said. His plans to sell were disclosed Monday. The company cites an AOL spokeswoman as its source. Five other AOL insiders who also disclosed plans to sell stock Monday sold 176,365 shares last Wednesday and Thursday, the newspaper said. Among them was AOL chief financial officer Lennert Leader, who sold 80,000 shares, reducing his total equity position in the company by 10 percent, the newspaper said. The sale prices weren't disclosed, but AOL stock closed at $118.9375 on Wednesday and $123.75 on Thursday, according to the newspaper. The latest sale represents a 15 percent reduction in Case's holdings of AOL stock plus vested and unvested options, the newspaper said. S.

To: Sam who wrote (8438)	3/4/1998 9:33:00 AM
From: jack rand	Read Replies (1) \| Respond to of 13594

That SC sold 2.5 x more than at any time in past 2 years at the least suggests opinion of AOL valuation. If he thought odds are good that it would be up another 10-20% within 3-6 months or so he might have sold the more usual 100-200,000 shares rather than 500,000.

To: Sam who wrote (8438)	3/4/1998 9:37:00 AM
From: jack rand	Read Replies (2) \| Respond to of 13594

What will be more intesting is excercise and sale by AOL employees. Just a few weeks ago AOL registered 4 million shares for that.

To: Sam who wrote (8438)	3/4/1998 3:38:00 PM
From: J.S.	Read Replies (2) \| Respond to of 13594

Sam writes: "Options expire worthless after a set period of time (ie 10 yrs.) regardless of what the option price is. Obviously, if you we're holding onto options that were in the money and the deadline was looming, you would exercise them!" This is not true at all. Expiring worthless means your options are out of the money (or close to it). One is afraid of options expiring worthless IF one thinks the price of the underlying may go down. Since AOL has no option series of that magnitude expiring soon, that is what I assumed you meant. In any case, there is such a thing as automatic exercise when options are well in the money. I'm sure AOL would want your money for its stock. They would force you to exercise them. Even if they didn't they would not be said to "expire worthless". They just "expired". Joe