Three months before the stock price of Bear Stearns plunged below $3, general counsel Michael Solender unloaded 2,087 stock options at $89 per share. Solender pocketed a nifty $186,000 on Dec. 21, 2007, according to a form filed with the Securities and Exchange Commission. Solender wasn't the only one to cash in shares last December: Five other Bear Stearns insiders also exercised their stock options, with director Paul Novelly selling the most: 50,000 shares, for which he collected $4.34 million.
Bear Stearns GC Cashes In
March 26, 2008