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Post by kc on Sept 3, 2015 17:42:30 GMT -5
I hate when this happens. It will just drive it down some more. I would guess tax driven. But have never Seen Al sell any shares. The others got a lot of Free shares with their options.
SEC Filing Alert
MannKind Corporation has filed the following document(s) with the United States Securities and Exchange Commission.
________________________________________
Sep 03, 2015
Form 4 / Pfeffer, Matthew J
Form 4 / Martens, Juergen
Form 4 / Thomson, David
Form 4 / Mann, Alfred E
Form 4 / Edstrom, Hakan
View all SEC Filings investors.mannkindcorp.com/sec.cfm
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Post by afrizzle on Sept 3, 2015 17:52:59 GMT -5
all except Al made net purchases, yes they sold a few but they bought far more than they sold.
Al sold less than $100k which is odd to me. That's noise at his net worth,
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Post by dreamboatcruise on Sept 3, 2015 17:54:54 GMT -5
I simply don't get it. Shareholders get admonished on CC for helping the shorts by making their shares available for lending, and yet management gives ammo to shorts with these insiders sales. Al's sale is the most shocking. A guy worth his kind of money needs to sell $50k worth of stock for what? Why on earth give the shorts that talking point over $50k. Al... if you needed a little walking around change, that's what ATMs are for. Geez. [end of rant]
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Post by Deleted on Sept 3, 2015 18:01:07 GMT -5
Something does not add up. If this is true, I will be greatly disappointed.
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Post by Deleted on Sept 3, 2015 18:08:38 GMT -5
Do you guys read before you complain?
He wasn't awarded options like the others. Look at the form. Why? Read the 10Ks, he actually passed on his "share" of free options.
What did he do? He sold shares to satisfy his tax obligations, not a share more.
Seriously, if you're this jaded, sell and move on. The incessant complaining around here is at a all time high.
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Post by compound26 on Sept 3, 2015 18:15:50 GMT -5
Something does not add up. If this is true, I will be greatly disappointed. It must be because of some regulatory/accounting/tax related arrangement set up by Mannkind. Notice all of these people had similar dispositions on the same dates. They can not have arranged by themselves that way. Notice also there was a note on the shares disposed: " Shares withheld to satisfy the tax liability incident to the vesting of previously reported restricted stock units." I do not know what this note means exactly, but I think the sale is arranged by Mannkind to comply with certain regulatory/accouting/tax requirements. |
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Post by dreamboatcruise on Sept 3, 2015 18:20:07 GMT -5
@talon... sorry. Please explain. Tax obligation on what?
And still... Al could certainly afford to pay taxes without needing to sell shares. It's simply bad optics. I'm told that I should forgo earning interest on my MNKD shares and yet Al couldn't come up with $50k from somewhere else to avoid allowing the shorts to point to a 4k sale with the founders name on it. I've not complained about others selling in the past. But I just don't get this one, especially when they seem to have acknowledged share price as a problem... though pointing at ME as the problem.
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Post by Deleted on Sept 3, 2015 18:20:32 GMT -5
I hate when this happens. It will just drive it down some more. I would guess tax driven. But have never Seen Al sell any shares. The others got a lot of Free shares with their options.
SEC Filing Alert
MannKind Corporation has filed the following document(s) with the United States Securities and Exchange Commission.
________________________________________
Sep 03, 2015
Form 4 / Pfeffer, Matthew J
Form 4 / Martens, Juergen
Form 4 / Thomson, David
Form 4 / Mann, Alfred E
Form 4 / Edstrom, Hakan
View all SEC Filings investors.mannkindcorp.com/sec.cfm
if you pay attention Explanation of Responses: ( 1) Shares withheld to satisfy the tax liability incide nt to the vesting of previously reported restricted stock units. ( 2) Acquired pursuant to a Restricted Stock Unit Award: 25% vest on each year anniversary of the vesting d etermination date and 25% each anniversary thereafter; shares shall fully vest on the fourth year anniversary of the vesting determin ation date. ( 3) 25% vesting on the anniversary of the vesting deter mination date and 1/48th per month thereafter; bein g fully vested on the fourth anniversary of the vesting determination date. |
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Post by Deleted on Sept 3, 2015 18:21:49 GMT -5
@talon... sorry. Please explain. Tax obligation on what? And still... Al could certainly afford to pay taxes without needing to sell shares. It's simply bad optics. I'm told that I should forgo earning interest on my MNKD shares and yet Al couldn't come up with $50k from somewhere else to avoid allowing the shorts to point to a 4k sale with the founders name on it. I've not complained about others selling in the past. But I just don't get this one, especially when they seem to have acknowledged share price as a problem... though pointing at ME as the problem. Explanation of Responses: ( 1) Shares withheld to satisfy the tax liability incide nt to the vesting of previously reported restricted stock units. enuf said.. you better reduce your position if its bothering you |
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Post by dreamboatcruise on Sept 3, 2015 18:24:22 GMT -5
compound26... if memory serves, when restricted shares vest and thus have no contingency aspect to them, the holder owes tax on the difference between the amount they paid for them and the fair market value at time of vesting. However, I don't know why this could not have been handled by Al simply paying the tax to avoid having SA talking about "Mannkind Founder Sells Shares" tomorrow. Not about to reduce my shares. Just consider me an ACTIVIST investor. So small of one as to be of no consequence.
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Post by compound26 on Sept 3, 2015 18:31:35 GMT -5
compound26... if memory serves, when restricted shares vest and thus have no contingency aspect to them, the holder owes tax on the difference between the amount they paid for them and the fair market value at time of vesting. However, I don't know why this could not have been handled by Al simply paying the tax to avoid having SA talking about "Mannkind Founder Sells Shares" tomorrow. Not about to reduce my shares. Just consider me an ACTIVIST investor. So small of one as to be of no consequence. I agree. However, this mechanism (tax triggered stock sale in relation to option exercise) may have been there forever (I have not checked though  and could be wrong on that) and probably is automatic and exercised by the company (Mannkind) on behalf of these officers/directors. |
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Post by mrv on Sept 3, 2015 18:33:37 GMT -5
I simply don't get it. Shareholders get admonished on CC for helping the shorts by making their shares available for lending, and yet management gives ammo to shorts with these insiders sales. Al's sale is the most shocking. A guy worth his kind of money needs to sell $50k worth of stock for what? Why on earth give the shorts that talking point over $50k. Al... if you needed a little walking around change, that's what ATMs are for. Geez. [end of rant] Same over here dbc, I don't get it either, and I totally agree with you. I am sure what we all expect is for MNKD officers to purchase shares in the open market, instead of getting free handouts and then selling them, regardless of the reasons. |
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Post by Deleted on Sept 3, 2015 18:35:28 GMT -5
I emailed Matt regarding this, below is his reply.
"There were no officer sales. These are shares surrendered back to the company to cover tax withholding on restricted stock vesting. This is shown on the forms, but not widely reported, unfortunately."
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Post by Deleted on Sept 3, 2015 18:36:06 GMT -5
one should read how RSU work.. lol
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Post by dreamboatcruise on Sept 3, 2015 18:37:33 GMT -5
compound26... well, my lending of shares has been in place for a long time and is now automatic and exercised by Schwab on my behalf. [Geez, I'm a tad grumpy today. I guess that's what comes from being in escrow with wild market gyrations.]
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and could be wrong on that) and probably is automatic and exercised by the company (Mannkind) on behalf of these officers/directors.