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Sat, Nov 07, 2009 - 10:48 PM EST  —  AAPL: 194.34 (+0.3099, +0.16%)  |  NASDAQ: 2112.44 (+7.12, +0.34%)

Palm insiders dump nearly 300,000 of beleaguered company’s shares
Thursday, July 16, 2009 - 02:03 PM EST

Apple Online Store "Some insiders at the company [Palm] have been hanging up on their shares. Two executives and a director have sold a total of about $4.6 million in stock in the past three weeks, the first string of sales at the company since last September," Avi Salzman reports for Barron's.

"Renata Lane, senior vice president in charge of human resources, sold 176,458 shares on Friday after exercising options, for $2.7 million, or about $15.03 per share. The options were set to expire in 2013 and 2015," Salzman reports.

"Brodie Keast, senior vice president for marketing, sold 20,295 shares on Thursday for $300,000, or about $14.80 per share," Salzman reports. "And on June 29, director Gordon Campbell sold 106,939 shares after exercising options for $1.7 million, or about $15.84 per share. His options were also set to expire between 2013 and 2015. Campbell is president of Techfarm, of Palo Alto, Calif., which funds tech start-ups."

Salzman reports, "Shares have surged in part on short covering and frenzied buying, possibly getting ahead of the company's fundamentals, a recent Barron's Take argued (see Barron's Take, "Palm Investors Should Sweat," June 26, 2009). The stock price has already factored in the early success of the Pre and the company has not offered enough guidance, the article notes."

Full article here.

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Jul 16, 09 - 01:18 pm Comment from: Glossy is good

Dohh!!

Jul 16, 09 - 01:22 pm Comment from: Think

Ahhh, the confidence this is sure to build among other employees.

Jul 16, 09 - 01:26 pm Comment from: Gordon Horne

Well now we know how long the top people expect Palm to be around. Not more than six years apparently.

Jul 16, 09 - 01:26 pm Comment from: ericdano

Hmm, very interesting. You don't typically cash out so soon....

Jul 16, 09 - 01:28 pm Comment from: Gordon Horne

Additional to my comment:
I wonder if Roger McNamee snapped up all the shares these three sold?

Jul 16, 09 - 01:38 pm Comment from: kirkgray

Nobody taking the takeover bait that is Pre?

Jul 16, 09 - 01:48 pm Comment from: Sarasota

There is a difference between exercising options and dumping stock. Now may have been the time to cash out if these executives plan on retiring soon or took the options en lieu of a large salary.

Jul 16, 09 - 02:03 pm Comment from: nova81426

If there were an MDN drinking game, and one of the rules was take a shot whenever MDN uses the word "beleaguered," I'd be drunk every day.

Jul 16, 09 - 02:13 pm Comment from: ChrisM

@nova

My thoughts exactly... MDN has singlehandedly removed all meaning from the word "beleaguered" through constant, and sometimes inappropriate, use.

BTW MDN, your website design is beleaguered. 2000 called, it wants it's website back. Not even Justin Timberlake could help.

Jul 16, 09 - 02:37 pm Comment from: Rich

I must admit; Chris M is right. This website is getting to be quite dated.

Jul 16, 09 - 02:41 pm Comment from: Gordon Horne

Gordon Campbell
Director Compensation (Palm, Incorporated) for 2008
Fees earned or paid in cash $69,000.00
Stock awards $32,839.00
Option awards (in $) $299,386.00
Non-equity incentive plan compensation $0.00
Change in pension value and nondisqualified compensation earnings $0.00
All other compensation $0.00
Total Compensation $401,225.00

Brodie Keast
Compensation for 2008
Salary $427,500.00
Bonus $0.00
Restricted stock awards $113,064.00
All other compensation $12,237.00
Option awards $ $471,591.00
Non-equity incentive plan compensation $0.00
Change in pension value and nonqualified deferred compensation earnings $0.00
Total Compensation $1,024,392.00

Renata Lane
Information not available.

Jul 16, 09 - 02:42 pm Comment from: Think

@ Chris & Rich

It's news, not a fashion store.

Jul 16, 09 - 02:43 pm Comment from: jr

beleaguered beleaguered beleaguered beleaguered (!)

MDN, can we get a new adjective please?

Jul 16, 09 - 02:48 pm Comment from: Davewrite

Sometime ago (last year) I read that Steve Jobs with his $1 a year salary hasn't sold a single share of his Apple stock since he returned to Apple about 10 years ago except for some stock sold or deducted for income tax purposes.

Jul 16, 09 - 02:48 pm Comment from: JawsMac

From a "tell-tale" POV, insider selling means very little. People may need money for house purchase, tuition, diversification, etc. The bigger sign of how insiders feel is stock purchases. Insiders only buy (as opposed to being "awarded") if they think the stock price will go up.

Jul 16, 09 - 02:59 pm Comment from: See Novak

To quote Gordon Gecko, it's payback time, sport. "Beleaguered" was a term often used by the media, mostly during the non-Jobs- pre-iMac era, to describe the one major computer company not totally intimidated by the unholy IBM/PC/Microsoft alliance. It's like telling Dell to sell the company and give back the money to the shareholders; its an inside joke designed to provide a bit of retrospective humor to this mostly pro-Mac blog.

Jul 16, 09 - 03:02 pm Comment from: BC Kelly

Hey Palm, Barron's and Salzman, et al


Yea Yea

We got your "fundamentals"

Right here



BC

Jul 16, 09 - 03:13 pm Comment from: BC Kelly

Hey Chris, Rich, jr and nova, et al


Yea Yea

We got your "beleaguered site update"

Right here

downer


BC



MDN, come to think of it

Could use a new interior

With some of that Fine Cordobian Leather


And longer Tail Fins

Jul 16, 09 - 03:16 pm Comment from: ChrisM

@ Think

I thought MDN, which is such an avid fan of Apple, would understand the importance of design and user interface. From a design perspective, MDN is the most "un-Apple" Apple news/fansite there is.

Jul 16, 09 - 03:40 pm Comment from: Gabriel

Yeesh... apparently we've attracted a number of trolls whose sole purpose is to whine about the use of the word "Beleaguered".

Of course, if they can't refute Apple's dominance or the problems of Apple's competitors with actual facts, I suppose all they have left is vocabulary complaints. wink

Jul 16, 09 - 04:03 pm Comment from: ChrisM

@Gabriel

Why do you assume I don't like Apple? Is it because I didn't tow the party line in defending every word that comes out of MDNs mouth? I am a big Apple fan... Got an original iPhone the day it came out, got a 3GS the day it came out, planning on getting a new 13" MacBook Pro soon...

My statements were about MDN, not Apple... and having a discussion or comment opposite of MDNs opinion does not automatically make you a troll.

Jul 16, 09 - 04:07 pm Comment from: BC Kelly

ChrisM

Can we get you to elaborate and be a bit more specific

On what you call ...

"design perspective"

"un-Apple"


Thanks, BC

Jul 16, 09 - 04:13 pm Comment from: BC Kelly

P.S.

Cause I'd be happy with just those Longer Tail Fins

Would make this site look more Snappy™

Even when it's sitting still


Ok, a new Hood Ornament too, they're always kewl


BC

Jul 16, 09 - 04:30 pm Comment from: ChrisM

@BC Kelly

Heh heh... the fin would be nice.

To elaborate on my comments, I'm just saying that the site's design is antiquated and somewhat jumbled. Not to mention it times out frequently when trying to load pages (which does not happen for any other site I go to). Theres a butt load of unrelated garbage under each post labeled "more on this topic", there are ads EVERYWHERE.. there's no smoothing used in the page layout to make things flow one into another... the logo is very flat and "one-dimentional", the link bar up top is tiny.... thier commenting system is antiquated... the list goes on...

Jul 16, 09 - 04:37 pm Comment from: alansky

I hear the scuffling sound of rats deserting a sinking ship.

Jul 16, 09 - 05:30 pm Comment from: BC Kelly

ChrisM

Interesting grin


Ok Folks, Commence Your Flaming Feedback

I'll chime in later after I do a lil' look see around the MacNet

And watch the Daily Soap Opera that is Katie's Couric

BC

Jul 16, 09 - 05:50 pm Comment from: me

Look at the Chart: PALM is up nearly 170% in 12 months when everything else is flat at BEST. Even if you love Palm, go ahead and take the $,$$$,$$$ now, let it cool, and then rebuyyour position.

hint: people do this with AAPL too!

http://www.google.com/finance?q=NASDAQ:PALM

Jul 16, 09 - 06:43 pm Comment from: Mac Daddy

Like rats from a sinking ship.

Jul 16, 09 - 08:04 pm Comment from: Jon

Beleaguered. MDN has a rather limited vocabulary and a juvenile attitude.

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