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GameStop Corp. Message Board

  • themo23 themo23 Jun 17, 2013 5:44 PM Flag

    8-K filed today (June 17th, 2013) for planned insider selling

    This is interesting. The 8-K filed today is the only Rule 10b5-1 filing for pre-arranged sales listed at SEC for GameStop going back to 2005.

    If the new consoles are supposed to be such a boon for GameStop, and if used game policies, digital rights, mobile gaming and digital downloads are of no concern then why are insiders setting up automatic sales heading into the launch? Hrm...

    Here is the filing:

    "Between June 13 and June 14, 2013, all of the Company’s executive officers and three outside directors entered into individual pre-arranged stock trading plans designed to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The plans contemplate the sale of shares of common stock, including shares issuable upon exercise of stock options generally granted between 2004 and 2006 expiring between 2014 and 2016. The initial sales under these plans are not scheduled to occur until at least ninety days after the plans were entered into. In aggregate, up to a maximum of 1,052,000 shares are subject to sales under the plans, approximately 700,000 of which are shares issuable upon exercise of options. Each of the executive officers and directors, as part of their individualized financial planning, entered into their plan to provide liquidity and investment diversification. After giving effect to the transactions contemplated by the plans, each of the individuals will continue to be in compliance with the Company’s stock ownership requirements.

    Transactions made under these plans will be publicly disclosed through filings with the U.S. Securities and Exchange Commission under Section 16 of the Exchange Act. Except as may be required by law, the Company does not undertake to report on specific Rule 10b5-1 pre-planned stock trading plans of directors and officers of the Company, nor to report modifications or terminations of the aforementioned plans or the plan of any other individual

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