Brian France sells most of his ISC stock
By Bob Pockrass
Wednesday, March 15, 2006
NASCAR Chairman Brian France has sold most of his stock in International Speedway Corp., the publicly traded track operating company controlled by his family, but an ISC spokesman said March 9 there is nothing unusual about the action.
France didn't own much of the stock, relatively speaking, in the first place. According to its annual filing of stockholders to the Securities and Exchange Commission, ISC reported March 6 that Brian France had 8,930 shares of Class A stock and 8,033 of Class B stock (.03 percent of the total voting power). In last year's report, he had 237,078 shares of Class A and 235,181 of Class B (0.78 percent voting power). The stock sales happened sometime before Jan. 31.
His sister, ISC President Lesa France Kennedy, also has given up some of her stock. She had 417,404 shares of Class A and 391,718 shares of Class B (1.34 percent of the total). At the end of last year, she owned 888,812 of Class A and 867,407 shares of Class B (2.9 percent in voting power).
None of the sales were to anyone outside of the France Family Group (made up of 35 members), which collectively owns 62.95 percent of the ISC stock and votes as one entity. Members of the France family own stock as part of the France Family Group and also can own shares outside of it.
"There are transfers all of the time between entities because they're trying to do estate planning and other things," ISC Investor Relations Director Wes Harris said. "There's been no direct sales of the France Family Group stock."
Harris said ISC also has adjusted the way it calculates the percentage of stock for each of the members of the France Family Group, and that might have resulted in some of the changes.
"There is a different presentation than what they have used in the past ... to where they more accurately reflect [their holdings]," Harris said.
For more in-depth coverage, see the March 16 issue of NASCAR Scene.
Miss Sprint Cup | On Twitter Now
Popular News
-
Roush Fenway Racing’s Carl Edwards avoids suspension, placed on probation for intentionally wrecking Brad Keselowski at Atlanta
Comments (320) -
Brad Keselowski says he won't back down, will continue to race aggressively despite controversial crash with Carl Edwards
Comments (303) -
Angry Carl Edwards causes frightening crash when he retaliates against Brad Keselowski at Atlanta
Comments (184) -
MONDAY MORNING CREW CHIEF: NASCAR faces a big question – what to do with Carl Edwards?
Comments (154) -
After Carl Edwards-Brad Keselowski incident, paybacks on the track are more acceptable, NASCAR drivers say
Comments (152)
Recent Headlines
-
NASCAR tweaks Sprint All-Star Race, pit stops to determine running order for the final 10 laps
Comments (1) -
Former Formula One driver from India to make NASCAR debut in Truck race at Martinsville
Comments (1) -
Strong track record favors Dale Earnhardt Jr. at Bristol Motor Speedway
Comments (11) -
New spoiler to replace rear wing on Sprint Cup cars beginning at Martinsville, NASCAR officials confirm
Comments (4) -
Ryan Truex to make Nationwide Series debut in July for MWR
Comments (3)
Poll PositionView All
How should NASCAR penalize Carl Edwards?
Promotions
-
Tweet your thoughts about each race and join the conversation with other fans.
-
Drive an authentic NASCAR Sprint Cup car at the NASCAR Racing Experience.