Riding the recent stock surge, some of Adobe's top people cash in options and sell off stock.
According to public filings and a
report from SiliconValley.com, the party over recent rosy financial reports in
San Jose rocks on. Adobe stock surged to more than $43, some 85% higher than a
year ago.
Several of the company's top executives
cashed in during the middle of Adobe's most recent quarter,
including:
* Sept. 30: Shantanu Narayen, Adobe's
executive vice president of worldwide products, exercised options to buy 230,150
shares for varying prices from $11.97 to $27.69, according to Thomson Financial,
selling 219,044 shares for $39.50 each and making a net gain of about $2.3
million; he still owns 19,082 shares as well as options on nearly a million
more.
* Oct. 2: Bryan Lamkin, senior vice
president of digital imaging and video products, exercised options to buy
162,688 shares for varying prices from $8.45 to $27.69, selling 154,041 shares
for $39.42 each and making a net gain of about $1.8 million; he still owns 9,623
shares as well as options on more than 675,000 more.
* Oct. 1: Theresa Townsley, human
resources senior vice president, exercised options to buy 93,750 shares for
$27.69 each, selling all but 5,000 of those shares for $39.45 each, for a net
gain of about $1 million; she still owns 13,731 shares.
The stock has climbed steadily in the
weeks since the executives cashed in.
