Putting Her Money Where Her, Well, Stock Is
We slap around Yahoo sometimes in this column, but we are also capable of hugging it out when the occasion presents itself.
Thus, kudos to Yahoo President Sue Decker for buying 47,000 shares of the company’s stock for $1.1 million, a nice show of confidence by the executive and one few others tend to do in times of turnaround, including any other bigwigs at Yahoo.
In fact, Decker is picking up the shares in an open-market purchase–as opposed to exercising options she might have been awarded as a top exec there–just after they hit a three-year low of almost $22.50. She now holds about 425,000 shares of Yahoo.
It’s the largest purchase by a Yahoo insider in four years, according to InsiderScore.com. Most executives at Web companies, I have found, don’t do a lot of buying of company shares beyond what they are awarded, stock they usually sell the minute they exercise their options.
Nothing wrong with that, but it is a nice symbolic move by Decker to buck the trend and also show support for the company she is charged with getting back on track.