Replies to post #99658 on InterDigital Inc (IDCC)

[mschere]

Question..Is this Jan. 2005 Heartland VALUE buy of 3 Million IDCC on the Morningside web page..already reflected in Heartland's Nasdeq listing for IDCC holdings as per 12/2004? TIA

InterDigital Communications IDCC

Funds Buying

Fund Name Star
Rating Shares
Bought (000) Total %
Shares Held Total %
Fund Assets Date of
Portfolio
Heartland Value 3000 5.45 3.13 01-31-05
Fidelity Select Developing Comm 73 0.13 0.20 11-30-04
Strategic Partners Managed Sm-Cp Gr M 23 0.04 0.83 08-31-04
Fidelity Select Network & Infrastruct 15 0.07 0.54 11-30-04
Principal Inv Ptr Sm Cp Gr II Instl 15 0.03 0.09 09-30-04



Owner Name
Select a name below for more information. Date Shares Held Change
(Shares) % Change
(Shares) Value
($1000)
HEARTLAND ADVISORS I... 12/31/2004 4,027,800 25,850 0.65% $64,848

BARCLAYS GLOBAL INVE... 12/31/2004 2,313,688 20,763 0.91% $37,250

EMERALD ADVISERS INC... 12/31/2004 1,141,819 147,689 14.86% $18,383

VANGUARD GROUP INC 12/31/2004 845,555 (2,866) (0.34%) $13,613

STATE STREET CORP 12/31/2004 817,665 (41,491) (4.83%) $13,164

[texb]

Olddog, the 2/28 RSU grants were explained in...

http://www.investorshub.com/boards/read_msg.asp?message_id=5618090

Those 30% RSU components (other 70% paid in cash) of IDCC Officers' regular bonuses are in addition to and have nothing to do with the LTIP. They are typically paid in February (2/28/05 and 2/13/04) based on performance for the prior year.

As I see it, the real shareholder significance of the executive compensation controversy at IDCC is twofold:

(1) IDCC now has two separate and substantial executive bonus plans that are tied to goals that DO NOT correlate well, if at all, with stock performance. Management is NOT aligned with shareholder interests through these two bonus plans whose goals are purposefully limited to predictable cash balances and other easily achievable benchmarks.

(2) The imposition of costs associated with the LTIP have singlehandedly taken IDCC from potentially exceeding market expectations to "misses" in the last 3 quarters. IMO, IDCC's credibility with the Street and the analyst community is strained nearly to a breaking point largely as a result of the LTIP. Nokia is a convenient scapegoat, but much of IDCC's current depressed stagnation is traceable to IDCC's failure to control costs, especially those of the LTIP.

MO,

texb