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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: DJBEINO who wrote (20748)	3/6/1998 11:16:00 AM
From: Greg Johnson	Read Replies (1) \| Respond to of 42771

>Eric E. Schmidt owns 1,451,673 shares of NOVL & bought 1,673 shares. > I got the proxy and the annual report for 1997 today >..... > AMENDED PLAN BENEFITS 1989 EMPLOYEE STOCK PURCHASE PLAN >..... > Eric E. Schmidt................................. 1,673 >..... > GUYS, I CALL THIS INSIDER BUYING.... Not so fast on the "Insider Buying". This is the employee stock purchase plan, whereby an employee can purchase shares at a 15% discount on the lower of two prices: the share price at the beginning and ending of an offering period. (The offering period is 6 months.) You can either hang on to the stock and hope it goes up, or unload it at the "group sale" at the end of the offering period and pocket a minimum of 15%. It's a no-brainer for employees, but in my mind, doesn't constitute insider buying since he got a 15% discount on the stock.