The chairman and chief executive of mortgage lender Countrywide Financial Corp. exercised options for 92,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Wednesday
In a Form 4 filed with the SEC, Angelo R. Mozilo reported he exercised the options for shares on Wednesday for $14.69 apiece and then sold all of them the same day for $28.74 apiece.
don’t forget the 110,000 shares from the day before and the 824,000 shares July 1st! for a net gain of $17.2 million.
I’d say that’s pretty well contained.
The Fed Funds are now priced at 5.25 after adding 19 Billion. They are calming the market and can do more if they wanted. Countrywide are hinting they are in trouble so we shall see what happens. I find it odd GS and ML did not show many sub prime losses in the quarterly. Still more shakeout ahead.