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November 28, 2009

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Brief: Executive sells stock at slot maker

Thursday, Feb. 4, 1999 | 10:48 a.m.

Sage obtained the shares from options that became vested, and sold them for personal reasons.

"My sale has no bearing on what I believe to be the future prospects for Anchor gaming," said Sage.

Sage said stock options are a part of his overall compensation package. If all 7,500 are sold, Sage will own no Anchor shares. But he is due to receive more options in the future.

Sage listed the value of the shares as $422,812, or $56.37 per share. In early trading Thursday, Anchor traded at $48.88 per share.

BT Alex. Brown on Monday downgraded Anchor from buy to market perform. That day, Anchor shares fell $1.88 to $52.50. The stock has fallen steadily over the last year from a high of $94.75 last May.

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