"Our stock is an outstanding investment
at current price levels."
-- CEO Craig Dubow on July 18, when GCI closed at $13.01 a share, and Corporate announced it would buy back up to $100 million worth of shares over the next year. Since then, GCI has plunged 27%.
Shares closed yesterday at $9.48, down 95 cents, or 9.1%, on a day when overall markets tumbled once more. The S&P 500 index fell 4.4%, and the Dow Jones Industrial Average fell 4.6%. Trading resumes today at 9:30 a.m. ET. Some relevant numbers:
3.9
million: average number shares trading daily
4.1
billion dollars: Gannett's market capitalization Feb. 14, when shares hit their last closing high, $17.19. Current cap: $2.3 billion
8
cents: quarterly per-share dividend
18.63
in dollars, per-share price former Chief Digital Officer Chris Saridakis got for his options April 26, 2010
71.94
in dollars, closing price July 15, 2005, when Dubow became CEO
90
in dollars, approximate per-share price I got when I sold most of my GCI in 2004
239
million: number shares outstanding
1,000
shares Karen Hastie Williams owned when she retired in April after 14 years on the board of directors
1967
year when GCI went public
50,877
shares Dubow owns outright
609,500
options COO Gracia Martore owns
[Data: Google Finance, regulatory filings]
Just me, or does that line sound like he's hawking swamp land?
ReplyDeleteDubow owns over 1.6 million shares and has over 1 million options. Why are you trying to have it look like he has nothing invested?
ReplyDelete9:31 What is the source for your data?
ReplyDeleteI drew mine from this table in the March 24 proxy report to shareholders.
It says Dubow owns 1,618,127 shares. However, a footnote says, "The following shares of common stock are included in the table because they may be acquired pursuant to SOs exercisable by May 3, 2011: Mr. Dubow -- 1,567,250."
To the best of my knowledge, Dubow has not exercised any of those options since this report was published. He owns the options, but not the shares.
Therefore, his actual stock ownership would be: 1,618,127 less 1,567,250, or 50,877 shares.