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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