Granted millions of company shares in May, five top executives at Sirius XM Radio Inc. disclosed their intention to sell them all upon vesting. So far, they have sold seven million shares for nearly $3.2 million.

Bloomberg News

The last time a SiriusXMinsider bought more than a few hundred dollars of shares was inAugust 2008, shortly after the merger of Sirius and XM.

"That's not a bullish evaluation," said Jonathan Moreland, director of research at InsiderInsights.com.

The last time an insider at the company made a purchase larger than a few hundred dollars was in August 2008, when Sirius XM Chief Executive Mel Karmazin bought two million shares shortly after the merger of Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. Mr. Karmazin wasn't among the recent sellers.

The executives -- David J. Frear, chief financial officer; Scott Greenstein, president and chief content officer; James E. Meyer, president, operations and sales; Patrick L. Donnelly, general counsel, and Dara Altman, chief administrative officer -- collectively received almost 10 million restricted shares of Sirius XM on May 19, with the shares to vest gradually over about 40 weeks.

A company spokesman in an email said the shares were granted as short-term incentive pay. He said Sirius officials would have no comment on the insider sales....read more here    http://online.wsj.com/article/SB125487968715969811.html?ru=yahoo&mod=yahoo_hs

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written by BlalockSucks, October 07, 2009

Cashing in at your expense. This company don't give one flying fuck about its shareholders.

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written by Michael Hartleib, October 09, 2009

This is a very blunt but correct statement! Sad but true.

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