[CLUE-Talk] SCO execs dumping stock

[Kirk Rafferty]

On Wed, Aug 13, 2003 at 07:10:02AM -0600, bof wrote:
>  SCO Group executives have sold about 119,000 shares of their company 
> since it filed a lawsuit against IBM in March and the stock price 
> increased more than fourfold.
> 8<... 
> How can this be done legally, what will all the other machinations by 
> SCO going on?

My understanding (which is, admittedly limited) is that as long as they
file with the SEC, this type of "insider" trading is legal.  What I think
could be illegal though is SCO's habit of making big FUD-laden
announcements every time their stock dips.

What I think would be a far more interesting figure than 119,000 shares
is a compilation of what percentage of their held stock is being dumped?

For instance, CFO Robert Bench has dumped 14,000 shares since July 8.
Up until then, he owned 221,043 shares.  This represents a dumping of
about 6% of his ownership.  This doesn't include options held, which I
don't believe are required to be reported. (someone please correct me if
I'm wrong though.)  It would seem to me that an exec dumping 6% of his
stock is a pretty routine thing.

OTOH, Jeff Hunsacker (Vice President) has sold 25,000 shares since July 9.
Up until that point he held 45,494 shares.  That's about 54% of his stake
in SCO.  It would seem, on the surface anyway, that Mr. Hunsacker might be
getting cold feet.  Smart man. :)

-k