Enron Corp. - University of California | Office of The President

* Belfer's stock sales consist of $294,120 shares sold for $16,436,692 on the open market;
770,927 shares, with a value of $35,378,483, transferred to an exchange fund and 1,000,000
shares, with a value of $60,126,025, hedged through costless collars. The aggregate value
of these dispositions was $111,941,200.
** Unknown but substantial.
402. These stock sales, in most instances, were large percentages of the Enron insiders'
holdings of Enron stock plus vested options, as shown below:
Shares Sold
Prior to CP
Report Available Shares Percent of
Insider Source Common Options Total Date Holdings Sold Proceeds Shares Sold
Baxter 1/01 Form 4 5,996 250,848 256,844 619,898 876,742 619,898 $34,734,854 70.70%
Belfer 2001 Proxy 8,407,084 31,755 8,438,839 1,651,213 10,090,052 2,065,137 $111,941,200 20.47%
Blake 2001 Proxy 6,456 18,155 24,611 21,200 45,811 21,200 $1,705,328 46.28%
Buy 3/01 Form 4 6,662 25,643 32,305 140,234 172,539 140,234 $10,656,595 81.28%
Causey 8/01 Form 4 77,372 0 77,372 208,940 286,312 208,940 $13,386,896 72.98%
Chan 2001 Proxy 2,724 16,475 19,199 8,000 27,199 8,000 $337,200 29.41%
Derrick 6/01 Form 4 81,873 0 81,873 230,660 312,533 230,660 $12,563,928 73.80%
Duncan 2001 Proxy 134,498 39,755 174,253 0 174,253 35,000 $2,009,700 20.09%
Fastow 11/00 Form 4 29,336 0 29,336 687,445 716,781 687,445 $33,675,004 95.91%
Foy 1/00 Form 4 27,468 13,098 40,566 38,160 78,726 38,160 $1,639,590 48.47%
Frevert 2001 Proxy 215,149 1,052,202 1,267,351 986,898 2,254,249 986,898 $54,831,220 43.78%
Gramm 12/98 Form 4 1,374 652 2,026 10,328 12,354 10,328 $278,892 83.60%
Hannon Indictment 94,000 $7,852,751 N/A
Harrison 2001 Proxy 79,312 858,950 938,262 1,011,436 1,949,698 1,011,436 $75,416,636 51.88%
Hirko 5/00 Form 4 181,334 1,730,000 1,911,334 473,837 2,385,171 473,837 $35,168,721 19.87%
Horton 2001 Proxy 117,390 240,322 357,712 747,082 1,104,794 830,444 $47,371,361 75.17%
Jaedicke 2001 Proxy 17,332 39,755 57,087 5,360 62,447 13,360 $841,438 21.39%
Kean 1/01 Form 4 24,105 24,678 48,783 64,932 113,715 64,932 $5,166,414 57.10%
Koenig 5/01 Form 4 21,694 15,981 37,675 129,153 166,828 129,153 $9,110,466 77.42%
Lay 2001 Proxy 107,176 5,285,542 5,392,718 1,903,515 7,296,233 4,002,259 $184,494,426 54.85%
Lemaistre 2001 Proxy 16,532 39,755 56,287 9,344 65,631 17,344 $841,768 26.43%
Mark 5/00 Form 4 0 0 0 1,895,631 1,895,631 1,895,631 $82,536,737 100.00%
McConnell 3/00 Form 4 26,357 36,722 63,079 32,960 96,039 32,960 $2,506,311 34.32%
McMahon 3/00 Form 4 8,885 87,222 96,107 39,630 135,737 39,630 $2,739,226 29.20%
Olson 3/01 Form 4 9,298 5,893 15,191 83,183 98,374 83,183 $6,505,870 84.56%
Pai 6/01 Form 4 0 0 0 3,912,205 3,912,205 3,912,205 $270,276,065 100.00%
Rice 2001 Proxy 21,164 1,447,969 1,469,133 770,410 2,239,543 1,234,009 $76,825,145 55.10%
Skilling 2001 Proxy 1,117,339 824,038 1,941,377 1,137,678 3,079,055 1,307,678 $70,687,199 42.47%
Sutton 9/00 Form 4 283,646 194,306 477,952 688,996 1,166,948 688,996 $42,231,283 59.04%
40,815,599 20,882,957 $1,198,332,223 51.16%
403. These defendants' illegal insider selling escalated massively as Enron's stock moved
to more inflated levels during the Class Period and also when internally they knew the scheme was
unraveling, especially after the termination of the Blockbuster deal, as the chart below shows:
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