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NewsTraders: Red Hat COO Buckley, Others Looking To Pare Holdings

Jun 29, 2000, 19:58 (0 Talkback[s])

"Red Hat Inc. (RHAT) Chief Operating Officer Timothy Buckley plans to sell 100,000 shares of the open source software developer, according to paperwork released today by the SEC. The shares have an estimated market value of $2.4 million, the filing said."

"Buckley is not the only insider planning to sell shares of the Durham, N.C., according to other Form 144 filings released over the past day by the SEC."

"A trust in the name of Frank Batten Jr. stated plans to sell 2 million shares, worth an estimated $69 million, on June 22, according to a filing. In addition, the Barr Foundation intends to sell 119,798 shares, valued at $3.6 million, according to its own regulatory disclosure."

Press Release