We have reported earlier that Mike Lazaridis, former CEO and co-founder of RIM sold 3.5 million shares of the company for approximately $27.4 million. And while Lazaridis may be exiting stage after nearly 30 years, guess who is adding his BBRY shares, Yes. Head of Fairfax Financial, and BlackBerry Director, Prem Watsa purchased 129,000 $BBRY shares in the open market this Christmas Eve.
The purchase of the shares cost him $994,590.
BlackBerry co-founder, Mike Lazaridis has sold off 3.5 million shares in BlackBerry since Monday according to U.S. Securities and Exchange Commission filings. The sale of the shares is noted to be worth $26-million (U.S.) and was processed via 1258701 Ontario Ltd., an investment holding company.
The first sale was made on Monday when 3.17 million shares were sold at an average price of $7.55 on the open market.
The second transaction came on Christmas Eve Day when the same numbered company sold 333,107 shares at an average price of $7.63.
BlackBerry shares have been on the rise after the company’s Q3 2014 earnings report closing out 27 cents up to $8.25 on the Toronto Stock Exchange.
Co-founders of Research In Motion Mike Lazaridis and Doug Fregin jointly filed a 13D with the SEC, which is a standard document that must be filed when you control over 5% of the shares of a public company. Lazaridis already held over 5.7%, but the new document says that he’s teaming up with Fregin, and they jointly own 8% of the stock.