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Emmis Communications Corp. Message Board

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  • pjv2xyw9dww4b6 pjv2xyw9dww4b6 Feb 25, 2012 2:32 PM Flag

    Why shouldnt the CEO & 10% holders sales be interpreted negatively ?

     

    the Nov. 11, 2010 sale by President Smulyan:
    http://sec.gov/Archives/edgar/data/783005/000122520810024863/xslF345X03/doc4.xml

    He sold 207,996 shares of Class B. The footnotes:

    "1. Shares sold was a private sale in order to take a tax loss for the year.
    2. In accordance with the Company's Articles of Incorporation, the Class B Common Stock is convertible on a one-for-one basis with the Class A Common Stock. Upon disposition by Mr. Smulyan any shares of Class B Common Stock automatically convert into shares of Class A Common Stock."

    He had 4,722,684 Class B shares after the transaction.

    The fact that seventy cents per share must be less than the average cost of the shares that he sold back then hardly convinces me that paying $0.7022 for my last purchase yesterday was a bad deal.

    This topic is deleted.
 
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