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NETSUITE’S NELSON SELLS $16M STOCK
NetSuite CEO Zach Nelson had a very good December as made by far the most significant sales of stock he made for 2012, in fact the most in at least 18 months. In several lots, Nelson sold about $16 million in NetSuite shares, the overwhelming amount through automatic sales, a technique executives of publicly held companies utilize to avoid problems with insider trading.
Almost of the shares told were purchased via the exercise of options, with the amount Nelson paid for those shares totaling about $1.5 million. Most of those options were exercised at $10.6 per share with sales generally ranging from $62 per share to $67 per share. However, in his biggest sale, Nelson disposed of 50,000 shares early in the month at $59.96 per share for a gross of nearly $3 million.
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