Daniel Negari exits Rightside position
XYZ founder sells his remaining shares in Rightside.
Daniel Negari, CEO of top level domain name firm XYZ, has sold all of his remaining shares in Rightside (NASDAQ:NAME).
Negari made the disclosure in a Facebook post regarding the Google open source registry software today by noting that he is not right now a shareholder in the firm.
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 firm at that time.
In August, Negari filed with the SEC to note 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 firm.
Negari likely made a profit on his Rightside investment. His average purchase price was $8.80, and he sold regarding 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 firm’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.
