JP Morgan Chase owns $27MM Marlin Stock
According to a filing dated June 30, 2006 and recorded by the Security Exchange Commission on July 11,2006, JP Morgan Chase & Company is the “beneficial owner of 1,237,110 shares of stock...Percent of class: 10.4%” At the current stock price level of $21.87, this equates to $27,055,595. According to another SEC filing, “ Registrant reported that on June 13 CEO Daniel Dyer adopted a prearranged stock trading plan to sell a portion of his company stock over time as part of his individual long-term strategy for asset diversification and liquidity... “On June 13, 2006, Daniel P. Dyer, Chief Executive Officer of Marlin Business Services Corp. (NASDAQ: MRLN), adopted a pre-arranged stock trading plan to sell a portion of his company stock over time as part of his individual long-term strategy for asset diversification and liquidity. “The stock trading plan was adopted in accordance with Rule 10b5-1 of the Securities and Exchange Act of 1934. Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not have material non-public information. Using their plans, company insiders can gradually diversify their investment portfolios over time while avoiding concerns that they had material non-public information when they sold their stock. “Under his Rule 10b5-1 Plan, Mr. Dyer may sell up to 62,080 shares over a period of approximately nine months (commencing in June 2006). The shares being sold by Mr. Dyer under the plan represent approximately 18.4% of the MRLN shares he beneficially owns as of June 13, 2006.” Copy of JP Morgan filing: |
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