Bob Dickey, president of the U.S. newspaper division, has sold 30,000 Gannett shares acquired through stock options he received four years ago.
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.
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| Dickey |
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.
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ReplyDeletenow now !! he deserves this money for having to put up with Gracia !!
ReplyDeleteThis boy is on fire! Time to hit the links!
ReplyDeletePerhaps he'll be able to lend some of that to Ron Burgundy after he "eliminates" his position?
ReplyDeleteDickey is a loud blustery blowhard full of sound and fury signifying nothing
ReplyDelete