Wednesday, March 13, 2013

Document: Dickey nets $527K on GCI stock sale

Bob Dickey, president of the U.S. newspaper division, has sold 30,000 Gannett shares acquired through stock options he received four years ago.

Dickey
He sold the shares Monday for an average $21.31 each, according to a filing late this afternoon to the U.S. Securities and Exchange Commission.

GCI closed today at $21.76, a 52-week closing high.

Dickey's 30,000 options carried a "strike" price of $3.75 each, so his trade netted him $526,800.

Options let recipients buy stock from their employer at a fixed price -- the "strike price" -- no matter how high shares trade on the broader market. They typically come with restrictions on how long the holder must keep the options before they can be exercised.

Stock sales by so-called insiders may indicate executives think their company's shares won't go much higher in the near future. But their timing can be off.

In December, Dickey sold 62,225 optioned shares for an average $17.83 a share. Those, too, carried a strike price of $3.75. If Dickey had waited and sold those at today's closing price, he would have made an additional $245,000.

He received all the options in early 2009 as part of his annual pay the previous year.

Earlier: Banikarim makes $116,000 on stock sale.

6 comments:

  1. This comment has been removed by a blog administrator.

    ReplyDelete
  2. Why we call him the dick.

    ReplyDelete
  3. now now !! he deserves this money for having to put up with Gracia !!

    ReplyDelete
  4. This boy is on fire! Time to hit the links!

    ReplyDelete
  5. Perhaps he'll be able to lend some of that to Ron Burgundy after he "eliminates" his position?

    ReplyDelete
  6. Dickey is a loud blustery blowhard full of sound and fury signifying nothing

    ReplyDelete

Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."

Note: Only a member of this blog may post a comment.