| Table 1 | SUMMARY - IBM GREED, INC. | Mar-2002 | ||||||
| Biggest Insider Traders (2000 - 2001) | ||||||||
| OFFICER/DIRECTOR | NO. OF | AVG. EXCR. | PURCHASE | NO. OF | AVG. | SALE | PRETAX | SHARES |
| SHARES | PRICE | VALUE | SHARES | PRICE | VALUE | PROFIT (est.) | HELD AS | |
| BOUGHT | (US$) | (US$) | SOLD | (US$) | (US$) | (US$) | OF NOV/01 | |
| Total - 11 execs | 555,394 | $26.40 | 3,347,854 | $110.56 | $367,416,000 | $288,335,000 | 872,188 | |
| Gerstner, Louis ('00-'01) | 22,286 | $18.52 | N/A | 2,183,048 | $108.92 | $237,781,000 | $197,345,000 | 326,503 |
| Gerstner, Louis (1999) | $11.97 | N/A | 770,000 | $121.49 | $93,547,000 | $84,330,000 | ||
| Gerstner, Louis ('96-'98) | 101,340 | $12.06 | $2,444,002 | 771,538 | $107.14 | $92,278,000 | $63,735,000 | |
| Thompson, John M. | 88,960 | $33.87 | 283,499 | $112.50 | $31,893,000 | $22,292,000 | 192,622 | |
| Ricciardi Lawrence | 67,700 | $39.74 | $1,533,032 | 299,820 | $110.45 | $33,114,000 | $21,200,000 | 39,975 |
| Kohnstamm, Abby | 48,093 | $38.20 | 123,433 | $115.06 | $14,202,000 | $9,487,000 | 23,922 | |
| Elix, Doug | 7,952 | $27.36 | 103,660 | $113.01 | $11,715,000 | $8,879,000 | 32,268 | |
| Donofrio, Nicholas M. | 63,395 | $21.62 | 90,427 | $103.23 | $9,335,000 | $7,380,000 | 112,500 | |
| Harreld, Bruce J. | 107,200 | $23.33 | 73,770 | $107.10 | $7,901,000 | $6,180,000 | 53,200 | |
| Kalis, David | 66,772 | $33.87 | 60,844 | $116.45 | $7,085,000 | $5,024,000 | 18,090 | |
| Joyce, John | $27.36 | 55,000 | $117.31 | $6,452,000 | $4,947,000 | 29,034 | ||
| Sanford, Linda | 53,036 | $34.91 | $49,961 | 56,613 | $110.84 | $6,275,000 | $4,299,000 | 11,312 |
| Palmisano, Samuel | 30,000 | $20.37 | N/A | 17,740 | $93.74 | $1,663,000 | $1,302,000 | 32,762 |
| Source: Annex Research | ||||||||
| (based on Insider Trading Form 144 filings, IBM proxy statements, adjusted for stock splits) | ||||||||
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