Now Palm execs will even be able to afford the iPhone…

Earlier this year, Palm announced a complicated deal where it’s selling part of itselft to Elevation Parners for $325 million and restructuring itself and doing a bunch of corporate-y stuff that will make your eyes roll back into head.

But here’s one thing that won’t tax your brain. In a prospectus filed today asking shareholders to approve whatever it is they want to do, Palm outlined some details of the deal. That includes that current stock will be converted into shares into the new company, plus current shareholders will get $9 for each share they own.

The document also disclosed how much stock current insiders own, and at $9 per share, they’re in line for a sweet payday if shareholders approve the deal. As a group, directors and executives hold 6.979 million shares, which a $9 per share would collect $62,817,138.

The top beneficiaries and their potential payday:

*Eric A. Benhamou, chairman: $5,167,368
*Donna L. Dubinsky, CEO of the original Palm: $16,065,522
*Edward T. Colligan, current president and CEO: $10,617,480

Google: Search engine or ATM?…

The Google money machine rolls on. And on. And on.

This week, topping the insider sales list are a couple of familiar faces.

Google Chief Executive Eric Schmidt sold 73,934 shares for prices ranging from $505.60 a share to $520.09 a share between July 27 and July 31 to collect $37.9 million.

Director John Doerr sold 58,650 shares for prices ranging from $509.50 to $515.10 a share on Aug. 1 to collect $30 million.

Senior vice president of worldwide sales Omid Kordestani sold 6,000 shares for prices ranging from $509.19 to $514.83 a share to collect $3.1 million.

Juniper lives, and so do insider stock sales…

Juniper is back. And so are its insider stock sales.

The Sunnyvale networking equipment company seemed to be on the endangered species list during the telecom collapse earlier this decade. But it’s rebounded nicely, especially over the past year when its stock has more than doubled. The stock was trading at $32.21 near the end of Thursday.

Insiders put sales on hold for about a year, but began cashing in again in April. Since then, six insiders have sold 1,292,815 shares to collect $36,190,197.

That includes chief executive Scott Kriens, who sold 500,000 shares on July 24 for $30.49 per share to collect $15.2 million. That’s the largest sale in five years at Juniper, according to Thomson Financial. And it brings his total sales to $282.2 million.

While Kriens had the biggest single sale at Juniper, chief technical officer and Juniper co-founder Pradeep Sindhu has had a bigger year so far. Sindhu has sold 650,000 shares over the past three months at prices ranging from $22.68 to $30.91 to collect $17.3 million. Sindhu now has total stock sales of $203.9 million.

Update: Sindhu sold another 100,000 shares this week, according to filings on Thursday. He sold them at $30.69 per share to collect $3.07 million, bringing his total this year to $20.4 million.

The long and winding road to a big Apple stock sale…

On Monday, Apple director William Campbell spent $690,000 to exercise 120,000 options at $5.75 per share. He sold all those shares for $17,357,271 for a net gain of $16,667,271, according to a series of Form 4s he filed on Wednesday. Thank you iPhone!

What’s interesting is the date of Campbell’s last stock sale as an insider: January 23, 1987. This is practically pre-historic times by Valley standards. Campbell originally was hired at Apple in 1983 but left late in the decade. He was chief executive of Intuit from 1994 to 1998.

Campbell joined the Apple board in 1997 when Steve Jobs returned from the wilderness. But Wednesday marked his first big Apple-related pay day, though we doubt he’s been suffering financially. Also, he still holds 253,015 shares.

And by the way, Campbell wasn’t the only Apple insider busy selling this week. Chief financial officer Peter Oppenheimer sold 135,625 shares on Monday at $144.28 per share to collect $19,567,975. That will sit nicely with the $73.4 million in stock he’s sold since 2002.

Both men were selling under terms of prearranged stocks sales plans known as a 10b5-1 that they filed in January.

Wanted at Alliance Fiber Optic Products: Factcheckers…

Still hard to believe this mistake gets made, but Alliance Fiber Optic Products filed a series of Form 4s on Wednesday to correct mistakes made on the date and price of options granted to some insiders this year.

The original form 4s were filed on May 11 and set the grant date at May 10 for $1.69 per share. The amedned forms filed Wednesday set the date at July 30 and the strike price at $2.41.

It’s unclear how the dates were that far off. In this case, the goof involved 30,000 options granted each to three directors: Gwong-Yih Lee, James Yeh, and Ray Sun.

Shantanu Narayen might be number two at Adobe Systems of San Jose, but for the week of July 13 he was the number one seller of stock among Silicon Valley insiders.

Narayen, president and chief operating officer, has been at Adobe since 1998. And the company credits him with spearheading – along with chief executive Bruce Chizen – the $3.4 billion acquisition of Macromedia in 2005.

On July 19, Narayen paid $6.5 million to exercise 250,000 shares at prices ranging from $21.78 to $32.16 per share. He sold 241,000 shares of that stock on the same day for $42.02 per share, giving him a net gain of $3.6 million on that day – keeping in mind he held on to 9,000 shares.

Since becoming an insider, Narayen has sold $123.5 million worth of Adobe stock.

Selling at Adobe this quarter has been moderate. According to Thomson Financial, since the beginning of June, Adobe insiders have sold $18.0 million worth of stock. The five-year average
for this quarter is $20.2 million.

Adobe’s stock is up 1.5 percent for the year as of Wednesday.

The Oracle Machine…

Maybe Oracle chief executive Larry Ellison should spend more time on his dingy.

While the software chieftain was busy not winning the America’s Cup race for much of the spring, his little software start-up in Redwood Shores has been setting a blistering pace in 2007. On June 26, Oracle reported that revenue for the fiscal year 2007 that ended in May rose 25 percent over 2006. That’s in part been driven by a frantic pace of acquisition, which continued on Wednesday when the company announced the purchase of Santa Clara-based Bharosa on Wednesday for an undisclosed sum. The company’s stock has risen 20.2 percent this year, to close at $20.60 per share on Thursday.

In Silicon Valley, there’s only one way to celebrate that kind of winning streak: Sell your stock.

So far in 2007, Oracle insiders have sold $168.4 million worth of stock, a figure that includes a $61.9 million sale made by Ellison back in January.

But this week, executive chairman Jeff Henley tops our sales list. On June 28, Henley paid $5.8 million to exercise 1 million shares at prices ranging from $4.18 to $6.88 per share. Henley sold all that stock the same day for $20 per share, for a net gain of $14.2 million.

During more than 15 years as an Oracle insider, Henley has now sold a total of $429 million worth of Oracle stock.