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Post by dreamboatcruise on Jun 5, 2018 20:10:44 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. This document doesn't actually reveal that anyone is electing to do this. So it's ability at this point to boost sentiment is probably limited. Likely that benefit might come if/when the SEC is notified of individuals taking advantage of this plan with purchases. Certainly if a number of execs are buying concurrently, that could peak interest. I know some investors who routinely look at insider purchase reports at least as a screener for stock to take a deeper look at.
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Post by bill on Jun 5, 2018 20:52:51 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. sla55 Sounds like a standard stock purchase plan, but just for directors and executive officers. Normally, they'd select some percentage of their salary to be escrowed each quarter for stock purchases, up to the IRS maximum, and purchases with the cash in escrow would be made on the last day of the quarter at the prevailing market price. I don't think those types of plans are subject to insider trading restrictions.
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Post by sportsrancho on Jun 5, 2018 21:26:19 GMT -5
It’s the same plan my girlfriend had when she worked at Abbott.
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Post by patten1962 on Jun 5, 2018 21:45:20 GMT -5
It’s the same plan my girlfriend had when she worked at Abbott. Wish I worked at Mannkind.
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Post by dreamboatcruise on Jun 5, 2018 22:02:21 GMT -5
It’s the same plan my girlfriend had when she worked at Abbott. Wish I worked at Mannkind. I'd certainly jump in if there were an opening for my skill sets. One of the things I've always liked about startups is the shared sense of purpose. Despite in some ways being a more mature company, I think in that regard MNKD is a startup.
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Post by bones1026 on Jun 5, 2018 22:26:52 GMT -5
Wish I worked at Mannkind. I'd certainly jump in if there were an opening for my skill sets. One of the things I've always liked about startups is the shared sense of purpose. Despite in some ways being a more mature company, I think in that regard MNKD is a startup I disagree.
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Post by Deleted on Jun 6, 2018 1:52:03 GMT -5
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. Back in the day we had a plan called ESOP. Employee Stock Option Plan. We could buy stock at a discount through payroll deductions.
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