So long and thanks for the $90m - Webb dumps shares at $29

While sellers are grappling with the fee changes this week, the San Jose Mercury News reports that Maynard Webb has netted $90m from his sales of the stock.  One scary point is that even with the stock down 43% this year, he's still selling.  It freaks Wall St. out to see insiders like this still selling when the stock is low.  The latest chunk has a strike price of $19, so he's feeling some pain at this level.

Comments

[Todd A]

Webb has been selling his options since he signed on at ebay. i dont think he ever owned shares for very long. Its a smart move to diversify your portfolio especially at his level. i am sure he his buying Google shares :)

[thomas p]

See filing. It actually was a good price $29.13 relative to the strike and he still has a lot left at higher strikes so I don't really think its that telling. Moreover, you can excersise the option
but you would need to pay the taxes and then sit on it. Not a good experience for those from the 90s.

[Bill]

I'm sorry Meg has not sold any stock. Cobb, Jordan, Webb and a host of others sell their shares after they exercise the option.

[Bill]

They do not have to sell the shares that they exercise the option on. They just have to exercise the option. The fact that he and everyone else is selling their shares after they exercise the option tells you that no one in upper management believes in what they are doing.

[DogStar]

This doesn't mean much.

All employees (even the COO) have to sell their vested options when they leave, or they lose them 90 days after the last day of work.