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December 20, 2006
Forest City CEO exercises options
Business Week is running this little item about Forest City Enterprises President and CEO Charles Ratner exercizing options:
The chairman and chief executive of Forest City Enterprises Inc., which develops commercial and residential real estate, exercised options for 88,800 shares of common stock, according to Securities and Exchange Commission filings Friday.
In a Form 4 filed with the SEC, Charles A. Ratner reported he exercised the options last Wednesday for $14.27 and $15.50 apiece and then sold 12,950 of them the same day for $57.08 to $57.45 apiece.
Ratner also sold 36,200 shares of common stock Wednesday for $56.92 to $57.13, according to a separate Form 4 filing Friday.
This was brought to our attention by some guy who is NOT Norman Oder, who added:
As they say, the market can be a great indicator of future knowledge. So... what with the news being so bad today and yesterday for FCRC, I decided to take a look at what insiders might be thinking about the Yards. Here's what I found:
Potentially very suspect, potentially also means nothing. But as I recall, didn't FCE JUST THE OTHER DAY buy out all of Bruce's shares in FCRC? That is to say, they are now officially invested in this project??? If the PACB sinks the project this wk, shares will surely go down.
NoLandGrab: Yeah, like "not-Norman Oder" says, "potentially also means nothing." But it could also mean that Cousin Chuck is being a hedge-hog.
A likely reason for Chuck Ratner to exercize his options is if he thinks that the stock is going down (or maybe he needs the cash for some big Hanukkah presents?).
Posted by lumi at December 20, 2006 6:49 AM