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

Enron Corp.
Defendant S. Horton's Quarterly Shares Sold (Dollar Volume)
June 1996 - November 2001
Dollars per Share
$100
$80
$60
$40
$20
$0
(g) Defendant Stanley C. Horton ("Horton") was Chairman and Chief Executive
Officer of Enron Transportation Services. During the Class Period, while in possession of adverse
undisclosed information about the Company, Horton sold 830,444 shares of his Enron stock for
$47,371,361 in illegal insider trading proceeds. Horton also transferred 10,147 shares of his Enron
stock valued at $722,565 to the Company to pay the exercise price of options he was exercising plus
related tax withholding, such that the vast majority of his insider trading proceeds went directly into
his pocket. Horton also received bonus payments of over $3.1 million, in addition to his salary, for
97, 98, 99 and 00 based on Enron's false financial reports. This defendant's insider selling before
and during the Class Period is shown below:
Summary of Insider Sales:
Pre - Class Period Shares sold: 49,980
Proceeds from Sales: $1,137,045
Class Period Shares sold: 830,444
Proceeds from Sales: $47,371,361
% of holdings sold: 75%
Enron Stock Price
Insider Sales
J S D M J S D M J S D M J S D M J S D M J S D M
1996 1997 1998 1999 2000 2001
- 72 -
Class Period
10/19/98 - 11/27/01
$15
$12
$9
$6
$3
$0
Proceeds (Millions)