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alstry (35.44)

SPF's NON Insider Buying

Recs

10

March 04, 2008 – Comments (1)

If you go to Yahoo and look at insider behavior, it appears that insiders are buying shares at SPF.  And not only a few insiders, a whole bunch.   A couple of very respected CAPS players fell into the trap and believed that insiders were actually buying shares.  It simply is not accurate.  As a matter of fact, the insiders were given shares and their only recent behavior is selling shares of SPF.

The following is the actual language from the CEO's(who is currently being sued in a class action suit for giving false guidance) Form 4 filing:

Explanation of Responses:

( 1)  Issuance of restricted stock pursuant to 2007 Performance Share Award Program.

( 2)  Payment of tax withholding relating to vesting of restricted stock issued pursuant to 2007 Performance Share Award program.

 

Basically the CEO was GIVEN 63,000 and he immediately sold 9,607 to cover withholding taxes.  Now is that a vote of confience since EVERY insider did the same thing?  Insiders playing hot potato?

The amazing part is that SPF's 2007 performance was the WORST in the company's history, its CEO and CFO are getting sued for providing false guidance, it is in violation of its debt covenants due in large part to its executives borrowing billions to speculate on land in some of the most challenged markets in the country..........AND THESE GUYS GET PEFORMANCE SHARE AWARDS?

1 Comments – Post Your Own

#1) On March 04, 2008 at 11:13 AM, klaracat (27.20) wrote:


Net Insider Trades 1.00 # Buy Transactions 1.00 # Sell Transactions 0.00 Net Shares Purchased (Mil) 0.02 # Shares Purchased (Mil) 0.02 # Shares Sold (Mil) 0.00 Institutional Ownership # of Institutions N/A % Shares Owned N/A Shares Held (Mil) N/A 3 Month Net Purchases (Mil) N/A 3 Month Shares Purchased (Mil) N/A 3 Month Shares Sold (Mil) N/A
Top 10 Insider Holders by Number of Shares Name Role Shares Held Market Value SCARBOROUGH STEPHEN JEFFREY CB 1,235,570 $4,954,635.70 FOELL RONALD R D 343,248 $1,376,424.48 STOWELL SCOTT D CO 122,701 $492,031.01 PARNES ANDREW H OD 117,875 $472,678.75 BAKER FRANK S CO 112,629 $451,642.29 WADE KATHLEEN R O 63,984 $256,575.84 HALVORSEN CLAY A EVP 63,577 $254,943.77 KRAH DOUGLAS C O 58,111 $233,025.11 DICKSON BRUCE FAIRCHILD O 52,256 $209,546.56 KARTOZIAN JARI L EVP 33,141 $132,895.41
Insider Trading Detail 1 of 32 of 33 of 3 Date Symbol Role Insider Name TxType Shares Price Holdings SEC 2008-2-19 SPF EVP HALVORSEN CLAY A F 2,135 3.85 63,577 2008-2-20 2008-2-19 SPF O WADE KATHLEEN R F 1,701 3.85 63,984 2008-2-20 2008-2-15 SPF O WADE KATHLEEN R F 1,624 3.85 N/A 2008-2-20 2008-2-15 SPF OD PARNES ANDREW H F 1,905 3.85 N/A 2008-2-20 2008-2-19 SPF OD PARNES ANDREW H F 4,270 3.85 117,875 2008-2-20 2008-2-19 SPF EVP KARTOZIAN JARI L F 1,067 3.85 33,141 2008-2-20 2008-2-15 SPF EVP KARTOZIAN JARI L F 2,134 3.85 N/A 2008-2-20 2008-2-15 SPF O KRAH DOUGLAS C F 2,646 3.85 N/A 2008-2-20 2008-2-15 SPF O KRAH DOUGLAS C F 3,812 3.85 N/A 2008-2-20 2008-2-19 SPF O KRAH DOUGLAS C F 2,135 3.85 58,111 2008-2-20 2008-2-15 SPF CO STOWELL SCOTT D F 269 3.85 N/A 2008-2-20 2008-2-19 SPF CO STOWELL SCOTT D F 2,135 3.85 122,701 2008-2-20 2008-2-19 SPF CB SCARBOROUGH STEPHEN JEFFREY F 9,607 3.85 1,235,570 2008-2-20 2008-2-15 SPF O DICKSON BRUCE FAIRCHILD F 3,037 3.85 N/A 2008-2-20 2008-2-15 SPF O DICKSON BRUCE FAIRCHILD F 1,500 3.85 N/A 2008-2-20 2008-2-19 SPF O DICKSON BRUCE FAIRCHILD F 1,701 3.85 52,256 2008-2-20 2008-2-07 SPF D JACOBS DOUGLAS C P 3,000 4.28 22,500 2008-2-08 2008-2-01 SPF O KRAH DOUGLAS C F 1,524 4.75 52,704 2008-2-06 2008-2-01 SPF CO STOWELL SCOTT D F 1,524 4.75 111,105 2008-2-06 2007-11-20 SPF CO BAKER FRANK S P 5,000 2.24 112,629 2007-11-21 2007-10-31
SPF
OX
PALMAER TODD JENNINGS
P
5,000
5.17
22,646
2007-11-02
2007-11-01
SPF
D
PETERSON JEFFREY V
P
5,000
4.66
22,000
2007-11-02
2007-10-31
SPF
D
JACOBS DOUGLAS C
P
3,000
5.08
19,500
2007-10-31
2007-8-16
SPF
OX
PALMAER TODD JENNINGS
P
5,000
8.22
17,646
2007-8-20
2007-8-20
SPF
CO
STOWELL SCOTT D
P
7,500
9.74
N/A
2007-8-20
2007-8-20
SPF
CO
STOWELL SCOTT D
P
2,500
9.76
115,253
2007-8-20
2007-8-16
SPF
OD
MERCK J WAYNE
P
5,000
9.43
10,000
2007-8-17
2007-8-07
SPF
UT
SCHIEWITZ F PATT
P
5,000
10.25
10,000
2007-8-08
2007-8-07
SPF
D
PETERSON JEFFREY V
P
5,000
10.28
17,000
2007-8-08
2007-8-07
SPF
D
MCNABB LARRY D
P
1,200
10.27
N/A
2007-8-08
2007-8-07
SPF
D
MCNABB LARRY D
P
800
10.27
17,523
2007-8-08
2007-8-07
SPF
D
JACOBS DOUGLAS C
P
2,500
10.35
N/A
2007-8-08
2007-8-07
SPF
D
JACOBS DOUGLAS C
P
500
10.38
N/A
2007-8-08
2007-8-07
SPF
D
JACOBS DOUGLAS C
P
2,000
10.39
16,500
2007-8-08
2007-6-11
SPF
OD
PARNES ANDREW H
M
5,000
5.44
95,900
2007-6-11
2007-5-23
SPF
CB
SCARBOROUGH STEPHEN JEFFREY
M
64,000
5.44
1,182,180
2007-5-24
2007-5-16
SPF
CB
SCARBOROUGH STEPHEN JEFFREY
M
64,000
5.44
N/A
2007-5-16
2007-5-16
SPF
CB
SCARBOROUGH STEPHEN JEFFREY
S
2,200
19.93
N/A
2007-5-16
2007-5-16
SPF
CB
SCARBOROUGH STEPHEN JEFFREY
S
2,400
19.92
N/A
2007-5-16
2007-5-16
SPF
CB
SCARBOROUGH STEPHEN JEFFREY
S
3,400
19.91
N/A
2007-5-16
2007-5-16
SPF
CB
SCARBOROUGH STEPHEN JEFFREY
S
1,400
19.90
N/A
2007-5-16
2007-5-16
SPF
CB
SCARBOROUGH STEPHEN JEFFREY
S
6,600
19.89
N/A
2007-5-16
2007-5-16
SPF
CB
SCARBOROUGH STEPHEN JEFFREY
S
6,000
19.88
1,118,180
2007-5-16
2007-5-14
SPF
D
DOTI JAMES LOUIS
F
1,771
20.10
25,900
2007-5-15
2007-5-14
SPF
UT
CHOATE BRUCE ALLEN
P
5,000
20.29
10,000
2007-5-14
2007-5-10
SPF
D
O BRYAN FRANK EUGENE
F
1,772
20.57
7,228
2007-5-14
2007-4-24
SPF
D
FOELL RONALD R
M
10,000
4.44
339,248
2007-4-26

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