Netscape Execs Cut Their Holdings

Netscape Communications Corp.’s two top executives, Chairman James Clark and President and Chief Executive James Barksdale, reduced their stake in the struggling Internet software company in 1997, according to recent government filings. Barksdale owns 4.8 million Netscape shares, or 4.9% of the company, according to a Securities and Exchange Commission filing, down from 5.1 million shares, or 5.8%, in February 1997. Clark owns 15.2 million shares, or 15.5% of the firm’s shares. That’s down from 15.9 million shares, or 18.1%, a year ago. The government filings come a week after reports that Netscape has been talking to IBM Corp., Sun Microsystems Inc., Oracle Corp. and America Online Inc. about selling all or part of the company. The Mountain View-based company has lost share of the browser market it pioneered to rival Microsoft Corp. Netscape representatives weren’t immediately available to comment. Netscape shares rose 25 cents to close at $21 in Nasdaq trading.