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| Pulte Homes Chairman files Form 144 William J. Pulte, founder and Chairman of Pulte Homes, Inc., filed a Form 144 with the Securities and Exchange Commission covering 5 million shares of company stock, or approximately 12% of the shares controlled by Mr. Pulte, intending to sell up to that amount of shares through a prepaid variable forward contract. The prepaid variable forward contract allows Mr. Pulte to receive cash now while also giving him the right to retain ownership of these shares at the end of the two-year term of the forward by settling the forward with cash. The transaction also allows Mr. Pulte to retain an interest in a possible increase in the shares' value over that two-year period and provides protection against a potential decline in value of Pulte shares during that same timeframe. write your comments about the article :: © 2008 Construction News :: home page |