Rambus' 10b5-1, where art thou?

A reader of Treowth took up the challenge to find Rambus' 10b5-1 . . . as follows is the email I received:

I was curious to see how quickly I could find the 10b5-1 information for Rambus. So I went to RMBS.com.

Oops! Rambus doesn’t own that address for its investor relations. . .

Back to Google, found the real Rambus site, clicked on investor relations. On the left, was SEC Filings and clicked on it. There are the SEC filings for Donnelly, Stark, and Horowitz, probably the source for your post.

These don’t seem to describe the actual plan and there are 266 SEC filings. I’ll let the computer do the searching.

I enter 10b5 in the keyword box. I get only a single page of hits. The first two are the Revised Proxy Statement and the Definitive Proxy Statement. Click on the Revised (most recent date). In the table of contents, I see 10b5-1 Trading Plans, so I select it and read:

The following persons currently have 10b5-1 trading plans in place: John Danforth, William Davidow, Robert Eulau, Mark Horowitz, David Mooring, and Geoff Tate.

I note two things:
(1) Neither Donnelly nor Stark has a trading plan; and
(2) It doesn’t list what the others’ trading plans are.

Back to square one.
Now I enter 10b5-1 in the search box on the left. I get 61 hits. I select the first one. It’s a listing of stock transactions with a link at the bottom to Section 16 SEC filings. I select the link. This doesn’t net a 10b5-1 trading plan, either. Another dead end.

Click “stock transactions” on the left. I’ve been here before.

I’m starting to learn the investor relations web site, but don’t seem to be getting any closer to finding a 10b5-1 trading program other than eliminating the places where it isn’t.

Maybe they’re listed in the annual report. I go back to the investor relations main page, but see that the stockholder’s [sic] meeting is still listed as upcoming. Click it anyway. It wants my e-mail address to listen to the event. I don’t want to listen; I want the document.

I enter my e-mail address anyway. Rather than taking me where I want to go, now it’s asking for more invasive information. I enter my name and company and click continue. There are the links for the broadcasts, but no annual report.

Start clicking all the links on the left, make my way down to SEC filings again. Notice there’s a link for annual filings, select that and see the annual report dated Feb 17, 2005. Select the PDF version of it to download.

So far, 22 minutes have elapsed and my oatmeal’s getting cold.

My browser appears to hang, so I start up IE. Maybe it will have better luck.

It doesn’t take me long to get to the annual report link and right click to save. I notice that it’s not actually a link to the PDF document, so I left click and wait and wait and wait. Although my connection to the internet is quite fat, this document is not coming in.

I close down IE (no reason to attempt to download the same document twice) and restart the download with Firefox.

It’s now been 28 minutes.

At least now things are going so slowly that I have time to eat my oatmeal. . . After waiting 5 minutes (and enjoying my oatmeal), I noticed that the window said it was done, even though it’s empty.

Maybe this is a Firefox problem. Let’s fire up IE and try again with it. This time, IE works for me (last time it seemed to hang, too). I have all 126 pages in less than 30 seconds from firing up IE.

Nice thing about Acrobat: it has a good search function. Enter 10b5-1 and all 126 pages are searched in less than 2 seconds.

Unfortunately, no hits.

Maybe a quick perusal through the document will net something. No dice.

My oatmeal is cold, my appetite gone, and I still haven’t found the 10b5-1 plans.

Where to, now?