Seeking Alpha

Gramercy insiders file to sell stock

Gramercy Property Trust (GPT -0.6%) files for an offering of up to 3.8M shares of common stock by selling stockholders.

Comments (5)
  • gymbo
    , contributor
    Comments (166) | Send Message
    "Selling Shareholders" in a Form S-3 is a misnomer and I sure wish the SEC would clean-up the rules to better clarify. These represent 3.8 million shares that GPT is contractually obligated to register on behalf of certain shareholders. That seems to be it in this case. These shareholders can hold as long as they want. However, the SEC forces issuers to assume that all of these shareholders are immediate sellers. This is not true. They are becoming shareholders with tradeable shares, just like the rest of us.
    10 Jul 2014, 04:27 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (8844) | Send Message
    This is not an insider sale.


    This is for the shares being issued to the property sellers in the OP unit deal that was previously disclosed.
    10 Jul 2014, 05:47 PM Reply Like
  • yodadog
    , contributor
    Comments (18) | Send Message
    Thanks to both of you for clarifying!
    10 Jul 2014, 08:02 PM Reply Like
  • User 105523
    , contributor
    Comment (1) | Send Message
    Thanks for clarification. Definitely misleading header without explanation.
    11 Jul 2014, 03:43 AM Reply Like
  • ehsiii
    , contributor
    Comments (25) | Send Message
    I would call it irresponsible... not just misleading!
    11 Jul 2014, 02:59 PM Reply Like
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