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Post by sla55 on Jun 5, 2018 15:35:45 GMT -5
investors.mannkindcorp.com/news-releases/news-release-details/mannkind-establishes-market-price-stock-purchase-planWESTLAKE VILLAGE, Calif., June 05, 2018 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) has established a stock purchase plan that provides MannKind’s directors and executive officers with a way to purchase shares of common stock directly from the Company at the prevailing market price at the time of each purchase. The stock purchase plan is intended to qualify for the limited exemption from stockholder approval provided by Nasdaq Listing Rule 5635(c)(2), as a plan that merely provides a convenient way to purchase shares from the Company at market value. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of MannKind’s common stock, nor shall there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
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Post by centralcoastinvestor on Jun 5, 2018 15:42:22 GMT -5
investors.mannkindcorp.com/news-releases/news-release-details/mannkind-establishes-market-price-stock-purchase-planWESTLAKE VILLAGE, Calif., June 05, 2018 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) has established a stock purchase plan that provides MannKind’s directors and executive officers with a way to purchase shares of common stock directly from the Company at the prevailing market price at the time of each purchase. The stock purchase plan is intended to qualify for the limited exemption from stockholder approval provided by Nasdaq Listing Rule 5635(c)(2), as a plan that merely provides a convenient way to purchase shares from the Company at market value. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of MannKind’s common stock, nor shall there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Very interesting. It would appear that insiders need a faster and easier way to purchase MannKind stock at current market value. At the ASM, Dr. Kendall mentioned that he would be buying shares as soon as the Legal Department would let him. This new program appears to open the door for him to do that. I think this is a positive. |
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Post by boca1girl on Jun 5, 2018 15:47:36 GMT -5
investors.mannkindcorp.com/news-releases/news-release-details/mannkind-establishes-market-price-stock-purchase-planWESTLAKE VILLAGE, Calif., June 05, 2018 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) has established a stock purchase plan that provides MannKind’s directors and executive officers with a way to purchase shares of common stock directly from the Company at the prevailing market price at the time of each purchase. The stock purchase plan is intended to qualify for the limited exemption from stockholder approval provided by Nasdaq Listing Rule 5635(c)(2), as a plan that merely provides a convenient way to purchase shares from the Company at market value. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of MannKind’s common stock, nor shall there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Very interesting. It would appear that insiders need a faster and easier way to purchase MannKind stock at current market value. At the ASM, Dr. Kendall mentioned that he would be buying shares as soon as the Legal Department would let him. This new program appears to open the door for him to do that. I think this is a positive. Makes faster and easier? Won’t there still be blackout periods that will apply to the insiders? I see it as a positive that the money goes directly to the company and a commission will not be paid to a broker. |
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Post by centralcoastinvestor on Jun 5, 2018 15:59:07 GMT -5
Very interesting. It would appear that insiders need a faster and easier way to purchase MannKind stock at current market value. At the ASM, Dr. Kendall mentioned that he would be buying shares as soon as the Legal Department would let him. This new program appears to open the door for him to do that. I think this is a positive. Makes faster and easier? Won’t there still be blackout periods that will apply to the insiders? I see it as a positive that the money goes directly to the company and a commission will not be paid to a broker. I honestly don’t know the answer to your question. Perhaps I should have stated more efficient, instead of faster and easier. I assume that the Directors and Executive managers could always buy on the open market and report those purchases via stringent rules. However, your point is well taken that now the purchases directly benefit the company with new money. |
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Post by robbmo on Jun 5, 2018 16:02:15 GMT -5
investors.mannkindcorp.com/news-releases/news-release-details/mannkind-establishes-market-price-stock-purchase-planWESTLAKE VILLAGE, Calif., June 05, 2018 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) has established a stock purchase plan that provides MannKind’s directors and executive officers with a way to purchase shares of common stock directly from the Company at the prevailing market price at the time of each purchase. The stock purchase plan is intended to qualify for the limited exemption from stockholder approval provided by Nasdaq Listing Rule 5635(c)(2), as a plan that merely provides a convenient way to purchase shares from the Company at market value. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of MannKind’s common stock, nor shall there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Very interesting. It would appear that insiders need a faster and easier way to purchase MannKind stock at current market value. At the ASM, Dr. Kendall mentioned that he would be buying shares as soon as the Legal Department would let him. This new program appears to open the door for him to do that. I think this is a positive. I am not an expert, but I think deferred payment is an option. Meaning, someone could "purchase" a quantity of stock and pay it off over a period of time. That could be the benefit of this plan? |
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Post by Deleted on Jun 5, 2018 16:03:51 GMT -5
I don't know how this will work. The original purpose was to make sure the INSIDERS do not buy or sell based upon insider information. Not sure how they will police this this.
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Post by dreamboatcruise on Jun 5, 2018 16:09:52 GMT -5
Very interesting. It would appear that insiders need a faster and easier way to purchase MannKind stock at current market value. At the ASM, Dr. Kendall mentioned that he would be buying shares as soon as the Legal Department would let him. This new program appears to open the door for him to do that. I think this is a positive. I am not an expert, but I think deferred payment is an option. Meaning, someone could "purchase" a quantity of stock and pay it off over a period of time. That could be the benefit of this plan? The plan documents seems to indicate money is withheld from salary ahead of purchase date since it talks about accruing it in the accounting system and crediting it back to employee if for some reason the purchase does not occur. |
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Post by robbmo on Jun 5, 2018 16:10:23 GMT -5
I don't know how this will work. The original purpose was to make sure the INSIDERS do not buy or sell based upon insider information. Not sure how they will police this this. I do not believe this is meant to circumvent blackout periods. I think it is to provide a way to provide Directors and Executives a way to purchase stock without having to come up with a lump sum of cash: except as to shares issued pursuant to certain deferred payment arrangements, which will be fully paid and nonassessable when such deferred payments are made in full |
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Post by wgreystone on Jun 5, 2018 16:16:52 GMT -5
It's better than buying from the open market. Money goes directly to company's coffer.
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Post by dreamboatcruise on Jun 5, 2018 16:32:06 GMT -5
It's better than buying from the open market. Money goes directly to company's coffer. Yeah, somewhat. It's basically adding to the ATM but without needing shareholder approval to do so. From an employees perspective I think I'd rather time my buys in the open market rather than agreeing to purchase at market price on some date in the future. Especially if the stock starts climbing upward, delaying the purchase would mean you pay higher than when you have committed to the purchase. |
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Post by porkini on Jun 5, 2018 17:14:06 GMT -5
I am not an expert, but I think deferred payment is an option. Meaning, someone could "purchase" a quantity of stock and pay it off over a period of time. That could be the benefit of this plan? The plan documents seems to indicate money is withheld from salary ahead of purchase date since it talks about accruing it in the accounting system and crediting it back to employee if for some reason the purchase does not occur. Was wondering about something like this too - payroll deduction, make it easy for employees to purchase small or regular amounts on ongoing basis. Dollar cost averaging for regular employees. Direct from employer. |
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Post by mannmade on Jun 5, 2018 17:17:19 GMT -5
Also avoids any hint of insider trading.
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Post by letitride on Jun 5, 2018 17:53:32 GMT -5
As a payroll deduction it may defer reporting requirements as well . Just a thought
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Post by tingtongtung on Jun 5, 2018 17:56:32 GMT -5
These are from the newly authorized share pool.. Not sure about dilution, unless employees are buying in millions. If so, it would be like a tiny startup funded by employees :-)
If it's going from salary, it is almost like ESPP, but you don't get any discount. Why would you lock your money for 6(?) months, and then buy thru the company? You could make a few dollar interest if it's in your account (just kidding!).
Looks just cosmetic stuff rather than anything else?
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Post by Deleted on Jun 5, 2018 19:42:56 GMT -5
I wonder if this, although not a large pool of shares, sets a "floor" on MNKD stock?
By doing this, management is sending a message that they are expecting the share price to climb from here on out. Why do this if the company's stock continues to drop and it is cheaper to buy on the open market?
This is just my rambling. But, recent activity from management and rx trends would suggest that our suffering from years of constant headwinds might be coming to a close. And the new era that we have been waiting for for SO LONG is finally starting to take shape.
Can you feel that? Yup that's right. A warm summer breeze on your back.
Still buying weekly.
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