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Sun Microsystems Cofounder Buys One Million Shares in Sun
Sun Microsystems Cofounder Buys One Million Shares in Sun

(August 2, 2002) - In an impressive show of support for his company, William Joy, cofounder of Sun Microsystems, purchased one million shares of Sun stock this week, said a Reuters news report.

Joy, who is also Sun Microsystems' chief scientist, bought the shares on Monday at prices ranging from $3.93 to $4.01, according to a filing with the U.S. Securities and Exchange Commission on Wednesday. In early afternoon Nasdaq trading the next day, Sun shares were up 1 cent at $3.93.

"It was a personal decision demonstrating faith in the company he founded," said company spokeswoman Carrie Motamedi of Joy's stock purchase. Bill Joy, 47, has led Sun's technical strategy since the founding of the company in 1982.

The SEC filing showed that Joy directly held 1,376,003 shares of Sun Microsystems stock at the end of July.

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