Terrence Jacobs, the lead Director of independent oil and natural gas company Linn Energy (NASDAQ:LINE), bought 15,000 shares of company stock for $580,374. The company's properties include operations in the the Mid-Continent (Texas panhandle, Oklahoma, Louisiana, Illinois), the Permian Basin (West Texas, Southeast New Mexico), the Antrim Shale (Michigan), Brea Olinda Field of the Los Angeles Basin (California), and the Williston Basin (North Dakota). On May 31, the company, along with LinnCo LLC (NASDAQ:LNCO) and Berry Petroleum Company (NYSE:BRY), announced an update on the proposed timing for their previously announced merger. As the Form S-4 remains under review by the SEC, the companies hope to merge now after a shareholder meeting in the third quarter of 2013. In the last six months, the company's stock price has decreased by 15.41%, and it is down 5.48% since this time last year.
Math is right. I guess last quarter before the dip. He should have waited because he could have gotten 17,465 shares with that money - over 2,465 shares more. That would give him an extra $1,898 more each quarter in divi.