Talk about a double standard. While PalmSource leaders
tout the benefits of investors owning their stocks,
current and
former executives seem to be running for the doors themselves. Latest Form 144 filers:
- 07/05/2005 David Nagel, former CEO: 116,388 stocks
- 07/15/2005 Schindler, Gabriele, (now) former VP: 55,220 stocks
- 07/25/2005 David Nagel, former CEO: 130,000 stocks
- 07/28/2005 Slotnick, Lawrence, former CTO: 16,000 stocks
It is not uncommon for executives to liquidate options and sell shares to buy houses or diversify their investment portfolios. But the fact that three of PalmSource's recently laid off executives are selling at the same time, all the while PalmSource stock is osculating around a new all-time low, causes us to speculate there may be more to these stock sales.
Ohh, and really, it's not helping either to boost our confidence that two major insitutional investors, Fred Alger Management and Fidelity, disclosed yesterday that they had dumped
all (Alger) or a
large part (Fidelity) of their PalmSource shares.