In May, Alvarion stock sank 50%, crashing to $9 per share. Since then, as said, it has rallied somewhat and is now trading at $13.4. That translates into a market cap of $690 million.
Alvarion stock this year
As the shares recovered, Rosenzweig registered to sell 33,300 shares through CIBC. The shares are worth about $420,000.
Berry, formerly the Industry ministry's Chief Scientist, registered to sell 14,800 shares worth about $190,000.
While Rosenzweig joined Alvarion in July 2001, Berry joined the board in 2000, after BreezeCOM completed its merger with Floware to create Alvarion.
The source of the shares Rosenzweig and Berry are selling is apparently the exercise of stock options.
Alvarion, which supplies wireless broadband communications technology, hopes to report $47-49 million revenues for the second quarter of 2004, and to net 4-5 cents per share. It has yet to file its 20-F financial statement for 2003 to the Securities and Exchange Commission, so we cannot know how many stock options the two officers received this year.