John Casey, vice president for technology at Hauppauge Digital Inc., sold 16,000 shares of his company stock — 14.5 percent of his total holdings — on May 20, a federal regulatory agency filing shows.
A series of five transactions brought him $53,321 that day, according to a Securities and Exchange Commission filing.
Each batch of stock Casey sold on May 20 garnered a higher per-share price as the stock continued to benefit from a May 13 company press release saying its TV tuner boards could wirelessly stream live television to Apple’s iPad.
At different points of the trading day on May 20 Casey sold 1,100 shares at $3.011, 2,900 shares at $3.01, 4,000 shares at $3.19, 4,000 shares at $3.38 and 4,000 shares at $3.75. Casey started that day owning 110,200 shares and by the close of trading owned 94,200.
Increases in Hauppauge Digital’s stock came as it narrowly avoided being delisted by the Nasdaq stock exchange because it had closed under the Nasdaq’s $1 minimum for months.
The company, which did not immediately respond to a request for comment Thursday, has had two surges in price in the past month.
The first surge came April 26, on a day when there was no news or public announcement from the company. Trading volume was 151,600 shares — the highest volume in years — and the stock closed that day at $1.27. (It had closed the preceding Friday, April 23, at 98 cents on volume of only 100 — that’s one hundred — shares.) The second surge started with Hauppauge’s May 13 iPad press release.
The SEC requires a Form 4 filing, a Statement of Changes in Beneficial Ownership, whenever a principal officer buys or sells company stock.
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