XYZ founder sells his remaining shares in Rightside.
Daniel Negari, CEO of top level domain name company XYZ, has sold all of his remaining shares in Rightside (NASDAQ:NAME).
Negari made the disclosure in a Facebook post about the Google open source registry software today by noting that he is not currently a shareholder in the company.
In November of 2015, Negari filed a disclosure with the SEC noting that he and XYZ COO Mike Ambrose owned 5.2% of the outstanding shares of Rightside. Negari owned 2.7% of the company at that time.
In August, Negari filed with the SEC to report that he and Ambrose had sold shares that month, and their combined ownership fell below the 5% reporting requirement. At the time, Negari still owned 402,091 shares of the company.
Negari likely made a profit on his Rightside investment. His average purchase price was $8.80, and he sold about a fifth of his shares for around $12.00 per share in August.
Uniregistry CEO Frank Schilling recently sold shares on the open market, sparking a rapid drop in the company’s share price. Schilling’s ownership is now below the 5% threshold as well, so he no longer has to file statements with the SEC if he sells shares.
Shares in Rightside were up 5 cents today to close at $8.62. This is despite the news that Donuts, which uses Rightside’s backend registry services, has been collaborating with Google on open source registry software.