From the last 10-K, page 56.
(8) STOCKHOLDERS' EQUITY
The authorized capital stock of the Company consists of 100,000,000 shares of Class A Common Stock, par value $.001 per share, 60,000,000 shares of Class B Common Stock, par value $.001 per share, and 10,000,000 shares of preferred stock, $.001 par value per share.
The Class A Common Stock and Class B Common Stock have identical rights other than with respect to voting, conversion and transfer. The Class A Common Stock is entitled to one vote per share, while the Class B Common Stock is entitled to ten votes per share on all matters submitted to a vote of stockholders. The shares of Class B Common Stock are convertible at any time at the option of the holder into shares of Class A Common Stock on a share-for-share basis. In addition, shares of Class B Common Stock will be automatically converted into a like number of shares of Class A Common Stock upon any transfer to any person or entity which is not a permitted transferee.
During 2010, 2009 and 2008 certain Class B stockholders converted 1,049,005 shares, 422,770 shares and 69,404 shares, respectively, of Class B Common Stock to Class A Common Stock.
Now if I can find a list of permitted transferrees, but from this filing it appears the children can not give Class B to their children without them converting to Class A. I might be reading this wrong however.
There are several filing where they moved shares around dated 2/1/2011, so maybe you can figure it out from that.
Hope it at least answered part of your question.
I actually do not know what would happen if they sold them to each other. I will try to check it out.
After I think about it, they might be just getting the shares into the trusts, so they make sure the family has control of the company as long as they want it.
I think Robert Greenberg is 70/71 ish. I suspect there will come a time he wants to step down, so I probably got a little out there with the thought they might sell. I just know shorty would have a field day if we saw insider selling at this level.
First, nice trades.
I was looking to sell calls if it got back to $17 on part of my stuff. Thought I had bought back my $14 puts to quick (and did by a day), but if this keeps up, hell just sell them again, LOL.
1. Someone bought all those puts late in the day to get out before the end of the quarter. If you change this to daily, the volume shoots up about the time I noticed the puts and posted about them, but I honestly do not know what time of day they showed up. Likely just a little earlier than I posted as java and josep noticed the plunge.
2. And this one scares me, Papa Greenberg moved all those shares around to sell. Hoping I am just way over cautious with this thought.
I tend to lean to this little move might not have anything to do with the channel. Hope not anyway, I want to trade around my shares while it last.
With 18% (last count) of the float short, there could be some shorts who really get smoaked here cause someone has been accumulating the crap out of this thing over the last month. Just sayin...