Insider sales: John Wall
Message ID: 92788
Posted By: heimdal31
Posted On: 2004-02-11 12:04:00
Subject: Insider Sales: John Wall
Recs: 6
Someone this morning posted a list of insider sales and the total amount it has netted insiders. I think there is one person you are missing in all of that: John Wall. Of course, you are missing him becuase he didn't have to file any Form 4s. I also think that he is likely an innocent "insider" who got out when he saw the scam in the making.
John Wall owned 800,000 shares of SCO when the scam started. Wall actually had founded a Redmond company and acquired the SCO shares when SCO had acquired some shares of his company and when SCO made a loan to his company. Soon after the lawsuit, Wall filed an S-3 stating his intention to sell. There was an article in June indicating he owned 600,000 shares--though, I could find no record of the sale or of the 600,000. I strongly suspect that he has exited his SCO position, though we may not know until the insider disclosure statements referenced in the 10-K come out as a part of the annual meeting report.
However, I think you can add between 200K and 800K shares sold to the running count of insiders cashing out.
On a related note. My understanding on the early 2003 rules regarding automated sales plans were that they could be set up at any time, but that the actual plans would have to be filed with the SEC after the end of the calendar year. (My understanding now with the stronger Sarbannes-Oxley provisions is that the plans must be filed within weeks of setting them up.) So, it seems likely that all of the insiders, who sold last year and referenced automated plans as the reason for the sale on their Form 4, must have filed those plans with the SEC by now. Those plans have never shown up in the SEC automated searches. Does anyone know how/where one goes about getting a copy of those filings?
I would be very interested in looking at the filed sales plans and comparing them to the actual sales, as well as comparing things like the dates the plans were purportedly set up to McBrides public statements regarding them plans.
------------------------------------------------------------
The text of this Yahoo Message Board post has been licensed for
copying and distribution by the Yahoo Message Board user "heimdal31"
under the following license:
License: CC Attribution-NonCommercial-ShareAlike v2.0
------------------------------------------------------------
Posted By: heimdal31
Posted On: 2004-02-11 12:04:00
Subject: Insider Sales: John Wall
Recs: 6
Someone this morning posted a list of insider sales and the total amount it has netted insiders. I think there is one person you are missing in all of that: John Wall. Of course, you are missing him becuase he didn't have to file any Form 4s. I also think that he is likely an innocent "insider" who got out when he saw the scam in the making.
John Wall owned 800,000 shares of SCO when the scam started. Wall actually had founded a Redmond company and acquired the SCO shares when SCO had acquired some shares of his company and when SCO made a loan to his company. Soon after the lawsuit, Wall filed an S-3 stating his intention to sell. There was an article in June indicating he owned 600,000 shares--though, I could find no record of the sale or of the 600,000. I strongly suspect that he has exited his SCO position, though we may not know until the insider disclosure statements referenced in the 10-K come out as a part of the annual meeting report.
However, I think you can add between 200K and 800K shares sold to the running count of insiders cashing out.
On a related note. My understanding on the early 2003 rules regarding automated sales plans were that they could be set up at any time, but that the actual plans would have to be filed with the SEC after the end of the calendar year. (My understanding now with the stronger Sarbannes-Oxley provisions is that the plans must be filed within weeks of setting them up.) So, it seems likely that all of the insiders, who sold last year and referenced automated plans as the reason for the sale on their Form 4, must have filed those plans with the SEC by now. Those plans have never shown up in the SEC automated searches. Does anyone know how/where one goes about getting a copy of those filings?
I would be very interested in looking at the filed sales plans and comparing them to the actual sales, as well as comparing things like the dates the plans were purportedly set up to McBrides public statements regarding them plans.
------------------------------------------------------------
The text of this Yahoo Message Board post has been licensed for
copying and distribution by the Yahoo Message Board user "heimdal31"
under the following license:
License: CC Attribution-NonCommercial-ShareAlike v2.0
------------------------------------------------------------