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Post by mnholdem on Aug 7, 2018 16:39:49 GMT -5
You can find the information about these employee plans in MannKind's 2014 and 2018 SEC filings. Dig in. Get your hands dirty.  |
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Post by caesar on Aug 7, 2018 16:40:35 GMT -5
Correction - I believe it will apply to any employee of MNKD
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Post by caesar on Aug 7, 2018 16:42:18 GMT -5
What it means for retails investors, your guess is as good as mine. I don't know!
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Post by goyocafe on Aug 7, 2018 16:45:04 GMT -5
Another piece of the puzzle - management will be able to buy 24+ million shares @ $1.05 regardless of PPS. Sweet Deal! |
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Post by awesomo on Aug 7, 2018 16:45:51 GMT -5
The highlights...
Such maximum number of shares reserved for issuance under the 2018 Plan consists of (1) 12,000,000 newly reserved shares and (2) up to 9,442,045 shares consisting of (a) the number of unallocated shares remaining available for the grant of new awards under the MannKind Corporation 2013 Equity Incentive Plan (the “2013 Plan”) as of the effective date of the 2018 Plan
Overall, it doesn't do much of anything for the current financial situation, but hopefully the management team recognized a good spot to lock down the price for themselves and the employees continue buying in (I'm still looking at you Dr. Kendall).
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Post by boca1girl on Aug 7, 2018 16:49:58 GMT -5
The highlights... Such maximum number of shares reserved for issuance under the 2018 Plan consists of (1) 12,000,000 newly reserved shares and (2) up to 9,442,045 shares consisting of (a) the number of unallocated shares remaining available for the grant of new awards under the MannKind Corporation 2013 Equity Incentive Plan (the “2013 Plan”) as of the effective date of the 2018 PlanOverall, it doesn't do much of anything for the current financial situation, but hopefully the management team recognized a good spot to lock down the price for themselves and the employees continue buying in (I'm still looking at you Dr. Kendall). Did you read the letter from the legal team in the filling? It looks to me that this is a change to the 2018 plan. And the $ form these stock sales go directly to our treasury, immediately improving our cash position. |
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Post by peppy on Aug 7, 2018 16:53:51 GMT -5
The highlights... Such maximum number of shares reserved for issuance under the 2018 Plan consists of (1) 12,000,000 newly reserved shares and (2) up to 9,442,045 shares consisting of (a) the number of unallocated shares remaining available for the grant of new awards under the MannKind Corporation 2013 Equity Incentive Plan (the “2013 Plan”) as of the effective date of the 2018 PlanOverall, it doesn't do much of anything for the current financial situation, but hopefully the management team recognized a good spot to lock down the price for themselves and the employees continue buying in (I'm still looking at you Dr. Kendall). 21,442,045 shares @ $1.05 for the 2018 Equity Incentive Plan 3,000,000 shares @ $1.05 for the 2004 Employee Stock I see. |
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Post by traderdennis on Aug 7, 2018 17:05:28 GMT -5
Did somebody sell shares in a separate account down to 1.05, knowing they would receive shares at 1.05 in the future? Seems interesting how the stock dropped down to 1.00 rapidly and then hovered there before the shares were announced. I don't think there was anything so sinister going on. What this means to (an unsure) me is they felt this would be a favorable time to set the price, which is good, as the corollary to that thinking is that the price may have bottomed, or, in any event, $1.05 or so is a good price. They can conserve cash and pay employees in stock. MCI did that in the late 80's. |
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Post by MnkdWASmyRtrmntPlan on Aug 7, 2018 17:06:50 GMT -5
We need someone knowledgeable to explain this to us (me, at least). Not exactly sure what this means in terms of our current financial needs. I hope it means that the executives collectively are ready to buy 22M+ shares in the next few weeks at a price of $1.05/share. Maybe they are sitting on $25M and are ready to support the company in a big way. Too bad they couldn’t offer those shares directly to the longs here as well. If you looked at the last fillings for the insiders, they were capped at 5,000 shares. Oh, god, BG, that is what I am thinking. If they all chipped in and bought a total of 22M shares, that would solve the immediate capital problem AND provide the catalyst to send the SP soaring.  And once the SP escalates, the next dilution won't hurt so much at a high SP. AND, we would finally be getting the board to have some skin in this game. We need Proboards Matt to translate that S-8 form. Hey, Matt! Are employees being given these shares, or do they have to pay for them? I think that's just wishfull thinking on my part. |
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Post by kenken on Aug 7, 2018 17:12:17 GMT -5
It means Al thru Michael hands rewarding his long time loyal employee and shareholders. BP announcement will come over soon. Shorts will kick their own butt by Al's watching. Share price of Mannkind Corporation will reach double digits sooner than anyone expects. Amen.
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Post by uvula on Aug 7, 2018 17:44:20 GMT -5
How many employees do they have? 100? Most of them are just regular folks and they are all concerned about their jobs. It is unlikely they can collectively come up with more than $200k. Of course the board members could come up with more than that. Buy there is no way they can come up with 10s of millions.
Update: theae are incentive awards not employee stock purchase plan. The employees don't need to put in any money up front. We won't see any money until they exercise their options so this doesn't help at all with the current money crunch.
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Post by ppallap on Aug 7, 2018 17:52:55 GMT -5
I am not knowledgeable either, but I guess these kind of activities happen in companies (which want to reward their employees) when they are about to be sold. Hope this turns out to be true.
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Post by mnkdfann on Aug 7, 2018 18:07:09 GMT -5
The document indicates that a variety of stock awards are being made available:
"Available Stock Awards. The Plan provides for the grant of the following types of Stock Awards: (i) Incentive Stock Options, (ii) Nonstatutory Stock Options, (iii) Stock Appreciation Rights, (iv) Restricted Stock Awards, (v) Restricted Stock Unit Awards, (vi) Performance Stock Awards, and (vii) Other Stock Awards."
I am not a lawyer, but from quickly scanning the lengthy document, it appears that some of the above could bring money into Mannkind's coffers. E,g, if stock options are granted and later exercised. Others (e.g. restricted stock awards) may be granted simply as a reward for past service (e.g. see page 22 of 72). There are a lot of shares made available for various sorts of bonuses here. Some will bring cash in to Mannkind. Some will not, and just amount to a little bit of dilution.
Overall, I don't think this is necessarily terribly significant one way or the other. YMMV, of course.
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Post by mytakeonit on Aug 7, 2018 18:07:54 GMT -5
We need someone knowledgeable to explain this to us (me, at least). Not exactly sure what this means in terms of our current financial needs. Means we have monies till the end of the year ... when the rocket takes off.
OR ... E = MC baba ... oh ... I mean squared.
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Post by traderdennis on Aug 7, 2018 18:24:06 GMT -5
We need someone knowledgeable to explain this to us (me, at least). Not exactly sure what this means in terms of our current financial needs. Means we have monies till the end of the year ... when the rocket takes off.
OR ... E = MC baba ... oh ... I mean squared.
Totally incorrect. If the company received 22 million dollars today that might be enough to keep the covenant with Deerfield for the third quarter. A funding round would be required again the the fourth quarter |
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