EchoStar EVP Sells Shares

[Poke]

http://biz.yahoo.com/ap/070109/echostar_insider_sale.html?.v=1

EchoStar Executive Vice President James DeFranco Sells 52,461 Shares


NEW YORK (AP) -- An executive vice president of satellite television broadcaster EchoStar Communications Corp. sold 52,461 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Monday.

In a Form 4 filed with the SEC, James DeFranco reported he sold the shares Thursday and Monday for $38.53 to $39.02 apiece.

The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

EchoStar is based in Englewood, Colo.

 

[VinceT3]

He wanted a new boat..

 

[ccash]

He wanted a new boat..

Nice Boat!

 

[pdxsam]

Is he gonna put Dish To Go on that boat?

 

[VinceT3]

Nope.. couldn't get his locals on it.. lol

 

[Stargazer]

Over 2 million bucks. That's quite a bit of money. Maybe he is going to go on vacation or use it for some other investment.

 

[mdonnelly]

E* stock is really high right now. He's taking out profits. Maybe paying off the mortgage on his mansion, or setting up a college fund for his grandkids. I'll bet that Jim still has a lot of E* shares.

 

[Smith P.]

Could be his anniversary of wife's birthday - just small gift for her.

 

[ptech]

Maybe he could buy a few Judges like "D"

 

[kstuart]

Could be his anniversary of wife's birthday - just small gift for her.

Actually that's the low end of the "Apology Diamond" price range.

 

[Hall]

Glad to see no posts like "Dish is going under !! Their top people are selling their shares !!".

Executives in companies do this all the time and as noted in the original post, these sales usually have to be pre-arranged with the SEC. He may be buying a new house or a boat or anything, just like people have joked about....

For what it's worth, DeFranco ain't hurting when it comes to his Echostar shares !!

[B]MAJOR DIRECT HOLDERS (FORMS 3 & 4)[/B]
Holder	              Shares    Reported
DEFRANCO JAMES	    4,230,213	3-Jan-07
MOSKOWITZ DAVID K   326,729	5-Dec-06
KELLY MICHAEL	    156,185	7-Mar-06
ERGEN CHARLES W	    98,652	19-Dec-06
KISER KYLE J	    39,791	7-Mar-06