InvestorsHub Logo
icon url

JimLur

04/19/04 8:07 AM

#66984 RE: olddog967 #66969

Olddog, I do believe what you have provided is what was attached to Harry's sale in 2000 or at least very similar. That sale was the only sale that had an asterisk that provided those comments.

None of Harry's other sales or any other insider sales ever had an asterisk. That caused comments on Yahoo and many investors thought that although Harry may benefit or share in the sale of those shares the entire profit was not his. The discussion should be around the date of the sale of the shares but searching Yahoo posts is not easy as their software sucks.

It was also brought up that Harry may well be the director of a pension or 401-K plan at his private company and had the fiduciary responsibility at that time to sell some shares. Many institutions and plans will only have a certain % of the dollars in a plan invested in one stock. At the time Heartland owned over 8 million shares of IDCC and drastically reduced their ownership. Another example would be Qualcomm. When they surged the top holder of Qualcomm's shares administrator Gregg Powers sold a great portion of those shares stating it was his responsibility to do so.

In my e-mail or PM to Ronnie which I noticed he said he never got I suggested unless he knew for certain that Harry reaped the entire profit of the sale it was unfair to assume so. I suggested to either ignore that sale or to provide 2 scenarios in his attempt to estimate Harry’s compensation since 1996. One would be to assume he was the sole owner of the shares and the other would be to assume he would share in the profit if it were a plan, which IMO shouldn’t be included in his estimate.

I plan to ask Janet what information on that sale is available to shareholders. I will also question Janet whether or not Harry receives normal cash compensation and shares as the other board members do.