IBM Vice President Chucks Holdings (IBM)

Is it nearing a top? Who knows, but one International Business Machines Corporation IBM Vice-President is chucking his holdings in the name fast and furious. Robert C. Weber, a VP at the company, was busy today selling a total of 37,662 shares of IBM in addition to the exercise and sale of 27,581 shares (done a curiously long time away from expiration – nearly 5 years). Mr. Weber originally exercised 57,172 shares and then began selling them in large blocks. The first went off for $154.70, another sold for $155.16, and a third block traded for $155.36. All in all the VP walked away smiling, pocketing $5,378,011, given the initial exercise strike of $82.84. Clearly we are all in the wrong business…