Google Exec Sells 6000 Shares…

I am not sure why this kind of news still garners headlines. It is a nice bit of spin. Really a non story. A Google (GOOG) insider that sells shares. Pre arranged trading plan and well within a normal pattern.

Google Exec Converts, Sells 6,000 Shares

Many will simply read this headline and think that this is an unusual event. Most won’t even get to the first paragraph…

NEW YORK — The senior vice president of worldwide sales and operations for Internet company Google Inc. sold 6,000 shares of common stock under a prearranged trading plan, according to Securities and Exchange Commission filings Thursday.

Look at the history of Omid Kordestani.

Insider & restricted shareholder transactions reported over the last two years
3-Dec-07 *2,959 GOOG.OB Sale at $689.74 – $694 per share.
(Proceeds of about $2,047,000)
3-Dec-07 *6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
3-Dec-07 6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
1-Nov-07 *2,800 GOOG.OB Sale at $702.10 – $708.87 per share.
(Proceeds of about $1,975,000)
1-Nov-07 *6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
1-Nov-07 6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
1-Oct-07 *6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
1-Oct-07 6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
4-Sep-07 *3,900 GOOG.OB Sale at $522.99 – $527.42 per share.
(Proceeds of about $2,048,000)
4-Sep-07 6,000 GOOG.OB Disposition (Non Open Market) at $0 per share.
1-Aug-07 *1,091 GOOG.OB Sale at $513.24 – $514.83 per share.
(Proceeds of about $561,000)
1-Aug-07 *6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
1-Aug-07 6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
2-Jul-07 *4,241 GOOG.OB Sale at $525.49 – $529.91 per share.
(Proceeds of about $2,238,000)
2-Jul-07 6,000 GOOG.OB Disposition (Non Open Market) at $0 per share.
1-Jun-07 6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
1-Jun-07 *6,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.
1-Jun-07 *700 GOOG.OB Sale at $498.70 – $503.25 per share.
(Proceeds of about $351,000)
1-May-07 6,000 GOOG.OB Disposition (Non Open Market) at $0 per share.
1-May-07 *4,400 GOOG.OB Sale at $466.35 – $471.73 per share.
(Proceeds of about $2,064,000)
1-Mar-07 25,000 GOOG.OB Acquisition (Non Open Market) at $0 per share.

Many more to list. I will stop here. Do you think that this sale is unusual? Who releases and writes this stuff? What is their motive?

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