Hi Bill, I'm trying to guage insider sentiment. The numbers I presented are not encouraging, so I was trying to determine what happened to all the shares "issuable upon exercise of stock options exercisable within 60 days of September 23, 1997". The last column in my previous post shows shares reported owned as of the date the trade was reported. Is it my imagination or are these guys selling the house? There is probably something I'm missing, but I must say the substantial selling volume with no buying makes me nervous. As a side note, the selling in October appears to have been done on insider information, and nobody sold in November, that would have been to close.
Can you shed more light on this?
The following is from page 5 of the last annual report and the data was as of September 12, 1997.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The following table sets forth information as of September 12, 1997 relating to the beneficial ownership of Company's
common stock by (i) each person known by the Company to beneficially own more than 5% of outstanding shares of the
Company's common stock, (ii) each director, (iii) each of the executive officers named in Summary Compensation Table below, and
(iv) all executive officers and directors as a group.
Beneficial Owner
Ark Asset Management Co., Inc. 2,750,000
One New York Plaza, 29th Floor New York, New York 10004
Peter Johnson(2) 680,200
Gary E. Fn'edman(2) Family Trust(8) 273,500
John N. Abelson (2)(3)(6) 117,776
Patricia M. Cloherty(2) 20,992
A. B. Cohen(2) 66,666
Michael E. Herrnan(2)(4) 79,666
Irving S. Johnson(2) 35,266
Antonie T. Knoppers(2) 50,866
Melvin I. Simon(2)(3) and Linda F. Simon Living Trust(5) 151,666
Neil J. Clendeninn 91,118
Barry D. Quart 105,270
R. Kent Snyder(7) 125,656
All executive officers and directors as a group (19 persons) 2,438,970
(1) Unless otherwise indicated, the persons named in the above table exercise sole voting and investment powers with respect to all shares
beneficially owned by them, subject to applicable community property laws. The number of shares beneficially owned includes the following
number of shares issuable upon exercise of stock options exercisable within 60 days of September 23, 1997: Mr. Johnson, 568,890 shares;
Mr. Friedman, 202,118 shares; Dr. Abelson, 21,666 shares; Ms. doherty, 6,666 shares; Mr. Cohen, 36,666 shares; Mr. Herman, 32,666
shares; Dr. Johnson, 9,166 shares; Dr. Knoppers, 36,666 shares; Dr. Simon, 21,666 shares; Dr. Clendenina, 20,892 shares; Dr. Quart
86,200 shares; Mr. Snyder,120,034 shares; and all executive officers and directors as a group, 1,583,886 shares.
(2) Director.
(3) Does not include 1,106,000 shares held by The Agouron Institute, of which Drs. Abelson and Simon are directors. As directors, they share
voting and investment powers as to the shares held by The Agouron Institute.
(4) Includes 20,000 shares held by the Herman Family Trading Company, a family partnership of which Mr. Herman is the general partner,
10,000 shares held by Vail Fishing Partners in which Mr. Herman has a 50% general partner interest and 2,400 shares held by Mrs.
Herman, of which Mr. Herman disclaims any beneficial ownership.
(5) Shared voting and investment power.
(6) Includes 1,000 shares held by Dr. Abelson as custodian for his minor children, of which Dr. Abelson disclaims any beneficial ownership.
(7) Includes 800 shares held by immediate family members, of which Mr. Snyder disclaims any beneficial ownership.
(8) Includes 4,052 shares held by wife as custodian for minor children of which Mr. Friedman disclaims any beneficial ownership.
(9) Adjusted to reflect two-for-one stock split in August 1997.
sf |
