Two Anchor execs file to sell stock

Thursday, May 20, 1999 | 1:42 a.m.

Two Anchor Gaming Inc. executives have sold or registered to sell personal stock holdings in recent weeks.

Joseph Murphy, Anchor's vice president of casino operations, filed with the Securities and Exchange Commission Wednesday to sell 2,000 shares. On April 28, Murphy exercised 2,500 stock options at a price of $12 per share, and sold the shares on the open market for $47.94 per share, according to figures compiled by CDA Investnet, a Fort Lauderdale, Fla. research firm.

The 4,500 shares represented about 14 percent of the 32,500 shares Murphy owned, and only 3 one-hundredths of 1 percent of Anchor's 11.9 million outstanding shares. Of Murphy's 32,500 shares, 30,000 were stock options.

Also on April 28, Thomas Matthews, Anchor's executive vice president and secretary, exercised 2,500 stock options at a price of $31.88 per share. He resold the shares on the open market for $47.94 per share, according to CDA Investnet.

The shares represented 5 percent of Matthews' 46,250 shares. Of those holdings, 33,750 were stock options.

Geoffrey Sage, Anchor's corporate controller, said the executives will actually end up holding more shares after their sales.

"By no means does it reflect any bad news or good news," said Sage.

When executives exercise stock options at below market value, they are taxed on their gain, said Sage. To pay the taxes, the executives often sell some shares on the open market, he said.