SEC Filings Alert: David A. Siegel Revocable Trust unloads about 128,000 BXG Shares

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

at about $4/share. This probably means that David Siegel believes the DRI deal is off. If he didn't, he would probably hold until the transaction is completed.

Bluegreen SEC Filings

[vintner Super Moderator Find all posts View Profile Close vintner]

Looks as though he still owns nearly 7.5M shares.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Did he bought it around 11? That hurt

Jya-Ning

[vintner Super Moderator Find all posts View Profile Close vintner]

Not sure what price he was getting in, but looking at some of the SEC filings, it looks as he could have lost some money on his stocks and put options.

[dioxide45 Member Find all posts View Profile Close dioxide45]

He may have been looking for a loss to write off on taxes.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Seagull losing money makes me

[wackymother Senior Member Find all posts View Profile Close wackymother]

Isn't this insider trading?

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

Isn't this insider trading?

I don't know. Is it??

Are you saying that people in a situation such as Siegel are barred from selling their holdings or adding to their holdings??

[wackymother Senior Member Find all posts View Profile Close wackymother]

Aren't they? If you're in a management position or higher with your company, and you own stock in the company, aren't you blocked from selling your stock during certain times? There are "open" times and "closed" times. Maybe this was an "open" time.

[Spence Super Moderator Find all posts View Profile Close Spence]

Aren't they? If you're in a management position or higher with your company, and you own stock in the company, aren't you blocked from selling your stock during certain times? There are "open" times and "closed" times. Maybe this was an "open" time.

wacky - Siegel is Westgate.

[wackymother Senior Member Find all posts View Profile Close wackymother]

He IS Westgate?

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

He IS Westgate?

He is. But when he try to take over Bluegreen, he has bought a lot of options, so he may have over 1% of ownership. If he still hold it, or if he exercise those stock options, than ...

Jya-Ning

[icydog Banned Find all posts View Profile Close icydog]

at about $4/share. This probably means that David Siegel believes the DRI deal is off. If he didn't, he would probably hold until the transaction is completed.

Bluegreen SEC Filings

I thought the Diamond purchase was a done deal. Did I miss something? I haven't been up to date with BG as I am in the midst of selling a few of my other timeshares. It's amazing to me that the deal might be off the table.
Marylyn

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

I thought the Diamond purchase was a done deal. Did I miss something? I haven't been up to date with BG as I am in the midst of selling a few of my other timeshares. It's amazing to me that the deal might be off the table.
Marylyn

Yeah, you miss the economic meltdown and whole credit frozen. So Diamond may not get the credit it needs to pay the deal. It has until Nov 15 to get the money.

Jya-Ning

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Aren't they? If you're in a management position or higher with your company, and you own stock in the company, aren't you blocked from selling your stock during certain times? There are "open" times and "closed" times. Maybe this was an "open" time.

No, first and foremost, Siegel is NOT an insider. Theoretically, he has no information that any of us don't have either. He is an outside investor who tried to take over the company and failed in that attempt.

Second, this is a required disclosure for shareholders who own more than 10% of the company. It is a benefit to shareholders that we know that they are unloading a position.

Third, nobody is blocked from buying and selling shares except for insiders during black out periods. This typically happens just prior to earnings announcements and is broadly applied to most employees since lots of employees know earnings info prior to its release. That would be insider trading and is illegal.