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Post by mannmade on Jul 6, 2014 9:03:51 GMT -5
Just for some humor Baba... No politics here...
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Post by babaoriley on Jul 6, 2014 18:08:09 GMT -5
Just for some humor Baba... No politics here... Ditto!
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Post by frenchysxm on Jul 6, 2014 19:13:26 GMT -5
A totally legal and ethical transaction. I do however find it very "RINKY DINK" that during what is probably the company's most pivotal and transformative period that the CFO sells 1/5 of his holdings. Come on buck up and put that purchase off! There will be plenty of time to cash in your chips when the deal is done! At least be big picture enough to think of how it would be perceived by shareholders. Poor judgement even if it was scheduled months ago.
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Post by garrett on Jul 6, 2014 19:32:18 GMT -5
A totally legal and ethical transaction. I do however find it very "RINKY DINK" that during what is probably the company's most pivotal and transformative period that the CFO sells 1/5 of his holdings. Come on buck up and put that purchase off! There will be plenty of time to cash in your chips when the deal is done! At least be big picture enough to think of how it would be perceived by shareholders. Poor judgement even if it was scheduled months ago. Good Point! So is this a "tell" by the CFO's actions who could have put off the sale of his stock if a partnership deal was imminent?
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Post by bradleysbest on Jul 6, 2014 19:57:22 GMT -5
Dear Al , Please take your time & use the leverage which you have gained with FDA approval. Do not rush into the 1st deal to come across your desk. You have the "gold" & there are suitors who want what you have. In time I am sure you & all of us will be very proud of your efforts! Go LONG or go home!
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Post by frenchysxm on Jul 6, 2014 20:07:36 GMT -5
Brad I have no idea how your post relates to this thread "Insider transaction". But to address Garret: I do not read anything into the transaction except our CFO has no class or wear with all. If we were discussing an individual in a lesser position in the organization it would not even merit a comment. But people do watch their leaders.
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Post by bradleysbest on Jul 6, 2014 20:13:52 GMT -5
Basically, when Al sells I will be worried & sell too! Sorry
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Post by frenchysxm on Jul 6, 2014 20:21:23 GMT -5
I agree and do not think we have to worry about Al. The man is first class all the way! Wish it would rub off a little on the CFO. Isn't he the same guy who made the amateur statement regarding partnership?
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Post by bradleysbest on Jul 6, 2014 20:28:43 GMT -5
I hear you!
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Post by ashiwi on Jul 6, 2014 21:49:27 GMT -5
Matt's sale was pre-planned months ago. At the time the thought process was that FDA approval and partnership would have been completed. The bottom line is that he sold a very small % of his holdings and he will probably continue to receive more options. He, as well as other insiders will continue to sell periodically. They are all entitled to make some $ and take some off the table. Why are all of us here? I have never been more confident about MNKD's future . As far as I'm concerned, I hope Matt enjoys his profit and we all expect to make a lot more.
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Post by rak5555 on Jul 6, 2014 21:50:39 GMT -5
Message deleted after reading ashiwi's post, which stated my thoughts much better.
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Post by mattm on Jul 6, 2014 22:31:25 GMT -5
ashiwi's info about when the planned sales was originally scheduled is very useful to know.
Some have mentioned that he could have cancelled the transaction, but I believe that is allowed only for specific reasons. Otherwise, Rule 10B5-1 Plan could be abused to trade with insider information. As an extreme example, if the PDUFA was July 15th, I could schedule a sale for July 14th. And based on what information I might have on the 14th, I could allow the sale to proceed or cancel.
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Post by babaoriley on Jul 6, 2014 22:51:51 GMT -5
ashiwi's info about when the planned sales was originally scheduled is very useful to know.
Some have mentioned that he could have cancelled the transaction, but I believe that is allowed only for specific reasons. Otherwise, Rule 10B5-1 Plan could be abused to trade with insider information. As an extreme example, if the PDUFA was July 15th, I could schedule a sale for July 14th. And based on what information I might have on the 14th, I could allow the sale to proceed or cancel.
Gotta be that way, or the abuses would be tantamount to insider trading.
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Post by lynn on Jul 6, 2014 23:34:55 GMT -5
You all know that I'm a novice here , aside from having my 401 k that I hadn't really thought twice about , or invested much in until I turned 40 , I am now maximizing my deductions in that & well aside from emergency funds , the rest of my $ is in my one & only personal stock investment & that is ( as most of you know ,)) Mannkind , the reason were all sharing thoughts on this awesome message board ! this felt like an ideal time to suggest reading Affrezzamiracles post again I hope no one gets mad at me for the suggestion , but it was well received & maybe we should all reread it daily , bc he or she eloquently stated why we are all here I have more money in this stock than I spent to close on my So Cal condo ( disclosure that was FHA loan ,) but none the less , I Love my condo now , but the stress of closing costs ect was worse to me than this investment is ! I'll actually be disappointed with a buy out at this point in time , as I want to be on this ride until it reaches it's final destination ! But ,I respect what ever choice Al Mann makes as he is 89 & I'll be grateful for as much I get to be apart of but personally I think he's got a lot of Life left in him , the ? Is is it for Mannkind or the philanthropist in him , either way , I'm happy to be a part of this journey Lynn
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Post by mannmade on Jul 7, 2014 9:38:03 GMT -5
Without wanting to call anyone out I feel that imho there are some people who just can't be happy until their personal dreams of wealth are satisfied no matter how far this stock is up from pre-adcom nor the fact that the single biggest risk factor has been removed with FDA approval.
So I am compelled to respond to the Matt bashers.. First, we do not know his personal issues financially or otherwise... My kid's private school tuition for one year is more than my whole undergrad and law school tuition was combined. Second, maybe he is helping support others.. Who knows and who cares? (Except that it would be the right thing to do if the case) I personally don't as I know that we are in great shape at this stage...
And forgetting for a moment that yes we all have a great financial stake in this companies success... There are others who have even more of a stake in it's success and so this means nothing to them personally...
Also Matt is a trained financial professional and may just be doing something prudent as we should all do given our individual circumstances... As the "great" Kenny Rodgers once said; "know when to hold them and know when to fold them..." (Baba that ref is just for the humor...) Or as my father once said... "I never lost money selling at a profit..." And he did very well in real estate having spent his whole professional career as a civil servant.
If I heard correctly he sold 20% of his holdings leaving 80% for the payday... So where is the "tell" if that's the case? If he was concerned he might have sold 50% plus as the prudent thing to do... More "telling" to the SEC is if he decided to cancel his pre-planned sale. I do not know the specifics of how these things work as many others do but once committed the Mannkind lawyers may have just said tough luck... Not because of the law but because of appearances...
Consider that he is also providing the "Jonny come lately's" or anyone who got hurt with a stop loss sale to get back in relatively cheap considering the new price is just that, a bargain with a premium priced in for FDA approval... I have bought many shares since approval.
I personally think Matt is doing an excellent job and for someone who has become "the de facto face" of the company we should support his efforts unless their is something glaringly wrong... It is very easy to be a Monday morning quarterback... We live in a society that is very quick to judge and thanks to the internet we have become more impatient and it is easier for anyone to share... But I have played team sports all my life and found that it is much better to support your teammates especially in the 4th Q when things get tough... I am sure that there are many things Matt has done for Mannkind which none of us know anything about and yet may have been to our collective benefit... Including massive travel which takes him away from his family all the time. I used to travel a lot for work and as fun as it sounds it can become quite a drag...
I have a saying... Technology changes but people don't... Meaning that after all the years of technological advancement (and believe me we are just at the very dawn of the golden age of technology) and the benefits it has brought, people still have the same basic instincts... (put your own meaning to what those instincts are...) So in the immortal words of Rodney King... "Why can't we all just get along..."
GLTA!
And please forgive the sound of my rant as I am not trying to judge anyone, just offer mho...
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