It is always interesting seeing option and share sale activity of company executives and insiders, particularly ahead of a stock split and particularly if your employee shares and options are in a shoe maker called Crocs inc. (CROX-NASDAQ). These are just some of the sales that were filed last week, and you have to double these shares now to reflect the stock split:
CEO Ron Snyder sold more than 90,000 shares.
Raymond Croghan, director, sold roughly 5,000 shares.
Richard Sharp, director, sold more than 52,000 shares in one filing alone and he had four such filings showing divestitures.
The long and hard truth is that when you have a stock that been this strong you almost always see insiders sell shares at unlocking dates and during ‘sell window’ dates. After seeing the Enron fiasco it is hard to keep that much money tied up in one company, even if it is your own company and even if it is named Crocs. Most employees and executives that work for a company have a hard time thinking that their company can continue to triple and quadruple in value in a short period of time, so it’s hard to blame them here.
Jon C. Ogg
June 18, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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