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Post by sportsrancho on Dec 18, 2023 20:06:11 GMT -5
GTC is 6 months
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Post by anderson on Dec 18, 2023 20:32:19 GMT -5
These were planned sales filed this past September and a year ago December. As such, I don't believe he has control over sales dates or prices but I could be wrong about that. These sales were handled in accordance with a Rule 10b5-1 Plan.
A little research turned up this: Rule 10b5-1 allows insiders to sell company stock by setting up a predetermined plan that specifies in advance the share price, amount, and transaction date. The insider selling the stock and the broker carrying out the transaction must certify that they are not aware of any material nonpublic information (MNPI).
It probably means share price or transaction date. It would be virtually impossible to align the two. He sold shares on Thursday and Friday.
Looks like the bulk of the sales were planned around September this year, 10k shares were planned from December of 22 It is all explained in the form 4 investors.mannkindcorp.com/node/19456/htmlCommon Stock, $.01 Par Value 12/14/2023 S(1) 10,000 D $4 2,339,147 D Common Stock, $.01 Par Value 12/14/2023 S(2) 100,000 D $4 2,239,147 D Common Stock, $.01 Par Value 12/15/2023 S(3) 90,482 D $4 2,148,665 D Explanation of Responses: 1. Transaction occurred pursuant to Rule 10B5-1 Plan established December 19, 2022. All transactions contemplated by such plan have now been completed. 2. Transaction occurred pursuant to Rule 10B5-1 Plan established September 1, 2023. 3. Transaction occurred pursuant to Rule 10B5-1 Plan established September 1, 2023. All transactions contemplated by such plan have now been completed. Note if you look at another Form 4 from September you will see the 10k from the December 2022 as well as mention of the divorce decree on September 5, 2023. investors.mannkindcorp.com/node/19361/htmlExplanation of Responses: 1. Transaction occurred pursuant to Rule 10B5-1 Plan established December 19, 2022. 2. Reporting person transferred 66,892 shares of MNKD common stock to his ex-spouse pursuant to a divorce decree on September 5, 2023. So those 200k shares most likely related to the divorce decree. I expect more selling by Mike since this is nowhere near half the shares his wife should be entitled to. There are probably more 10B-5-1 Plans with higher sell prices. |
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Post by gamblerjag on Dec 18, 2023 21:27:42 GMT -5
I've used GTC orders. Not a big fan of them really. I'd rather rely on more day-to-day info, because sometimes a GTC order can mean lost profits. For example, a GTC sell order might execute because something so wonderful has been announced, but now you've missed much of the upside because your GTC sell order triggered at the lower price. GTC sell order can make sense if you set the price so high you think "if my shares get to that price point I'd be crazy not to sell, so I'll gladly sell there with no regrets." If you're suggesting Mike had a longstanding GTC sell order for MNKD at $4 (which is one of the two scenarios i presented in my "long convoluted" posts), then that certainly tells us some relevant and important info, dontcha think?? Nope. I can't seem to convince you things are probably on the up and up and I know you and awesomo can't convince me there is "f-----y afoot", and I'll leave it at that.
In my opinion, Mike probably knew he had to come up the money four months ago, so why would he not have sold when it was $5.45 in August if he thought the stock was gonna take such a dive or if he thought the stock was valued too high. |
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Post by cretin11 on Dec 19, 2023 7:24:08 GMT -5
Good point gamblerjag, that’s a reasonable take based on the timeline.
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Post by hellodolly on Dec 19, 2023 8:01:24 GMT -5
Nope. I can't seem to convince you things are probably on the up and up and I know you and awesomo can't convince me there is "f-----y afoot", and I'll leave it at that.
In my opinion, Mike probably knew he had to come up the money four months ago, so why would he not have sold when it was $5.45 in August if he thought the stock was gonna take such a dive or if he thought the stock was valued too high. I would think he didn't " think" it was going to take a dive. Not so sure why he would have any idea which way the stock would head much less tank, as the CEO? Sketchy call, especially considering this is a court ordered or forced transaction which makes this all the less nefarious and more obvious. My bet, he likely hoped that it would stay or move higher so he wouldn't have to sell more than he really wants to keep for himself. She's happy she get the cash, he's hopeful when price climbs...my take. |
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Post by sportsrancho on Dec 19, 2023 8:48:35 GMT -5
In my opinion, Mike probably knew he had to come up the money four months ago, so why would he not have sold when it was $5.45 in August if he thought the stock was gonna take such a dive or if he thought the stock was valued too high. I would think he didn't " think" it was going to take a dive. Not so sure why he would have any idea which way the stock would head much less tank, as the CEO? Sketchy call, especially considering this is a court ordered or forced transaction which makes this all the less nefarious and more obvious. My bet, he likely hoped that it would stay or move higher so he wouldn't have to sell more than he really wants to keep for himself. She's happy she get the cash, he's hopeful when price climbs...my take. If that was the case why wouldn’t he just transfer her the shares? |
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Post by mayday on Dec 19, 2023 9:28:49 GMT -5
I would think he didn't " think" it was going to take a dive. Not so sure why he would have any idea which way the stock would head much less tank, as the CEO? Sketchy call, especially considering this is a court ordered or forced transaction which makes this all the less nefarious and more obvious. My bet, he likely hoped that it would stay or move higher so he wouldn't have to sell more than he really wants to keep for himself. She's happy she get the cash, he's hopeful when price climbs...my take. If that was the case why wouldn’t he just transfer her the shares? She was smart and demanded the cash... |
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Post by hellodolly on Dec 19, 2023 9:30:00 GMT -5
I would think he didn't " think" it was going to take a dive. Not so sure why he would have any idea which way the stock would head much less tank, as the CEO? Sketchy call, especially considering this is a court ordered or forced transaction which makes this all the less nefarious and more obvious. My bet, he likely hoped that it would stay or move higher so he wouldn't have to sell more than he really wants to keep for himself. She's happy she get the cash, he's hopeful when price climbs...my take. If that was the case why wouldn’t he just transfer her the shares? Court Orders vary, all depends on the settlements. |
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Post by peppy on Dec 19, 2023 9:53:17 GMT -5
www.nasdaq.com/market-activity/stocks/mnkd/real-timeMNKD volume at 20 mins of trade, Volume: 302,868$3.845 +0.115 (+3.08%) volume at 15 mins was, 155,909300,000 shares s the average 1 hour volume. hmmm good ... At 30 mins of trade, Volume: 472,495$3.87. +3.75%. +0.14 At 1 hour of trade MNKD volume, ........ volume slowed. Volume: 575,504$3.86 +0.13 (+3.49%)
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Post by cretin11 on Dec 19, 2023 12:54:12 GMT -5
I would think he didn't " think" it was going to take a dive. Not so sure why he would have any idea which way the stock would head much less tank, as the CEO? Sketchy call, especially considering this is a court ordered or forced transaction which makes this all the less nefarious and more obvious. My bet, he likely hoped that it would stay or move higher so he wouldn't have to sell more than he really wants to keep for himself. She's happy she get the cash, he's hopeful when price climbs...my take. If that was the case why wouldn’t he just transfer her the shares? Good question sports, especially considering he "transferred 66,892 shares of MNKD common stock to his ex-spouse pursuant to a divorce decree on September 5, 2023." This time he sold over 200,000 shares (coincidentally at exactly $4 on the only day in a two month period when share price touched $4). hellodolly is saying "this is a court ordered or forced transaction" but is that speculation or has that been confirmed anywhere? |
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Post by kippyt on Dec 19, 2023 12:59:54 GMT -5
I have reason to believe that the 66k transfer had to do with his previous divorce. Not to come off creepy, and I don’t know our CEO personally, but years of bad online dating has made me rather adept at internet sleuthing…. And bc of that, I know that he just celebrated his anniversary on what looked like a nice trip. Maybe that is why he sold shares… vacation inflation!
Not like this is anyone’s business, but for those who think this has to do with a current divorce preceding, I wanted to mention it.
And sorry this is on wrong thread but I saw a few posts related to this topic.
Long (sadly too long) MNKD since 2011. Best wishes for a better 2024
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Post by prcgorman2 on Dec 19, 2023 13:20:29 GMT -5
If that was the case why wouldn’t he just transfer her the shares? Good question sports, especially considering he "transferred 66,892 shares of MNKD common stock to his ex-spouse pursuant to a divorce decree on September 5, 2023." This time he sold over 200,000 shares (coincidentally at exactly $4 on the only day in a two month period when share price touched $4). hellodolly is saying "this is a court ordered or forced transaction" but is that speculation or has that been confirmed anywhere? Anderson's explanation based on 10K and 10B5-1 Plan was also very helpful and preferable because it is based in evidence of real-world regulated stock sales transactions instead of speculative hyperbole of a criminal nature.
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Post by peppy on Dec 19, 2023 13:45:12 GMT -5
www.nasdaq.com/market-activity/stocks/mnkd/real-timeMNKD volume at 20 mins of trade, Volume: 302,868$3.845 +0.115 (+3.08%) volume at 15 mins was, 155,909300,000 shares s the average 1 hour volume. hmmm good ... At 30 mins of trade, Volume: 472,495$3.87. +3.75%. +0.14 At 1 hour of trade MNKD volume, ........ volume slowed. Volume: 575,504$3.86 +0.13 (+3.49%) 1 million shares and a new high on the day. $3.92 takes out yesterdays high. $3.9083 +0.1783 (+4.78%) Volume: 1,009,740 DEC 19, 2023 1:43 PM ET . |
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Post by peppy on Dec 19, 2023 16:06:22 GMT -5
MNKD Nasdaq real time volume, Volume: 2,043,190..................was 1,659,452 shares on close. $3.91. +4.83%. +0.18..... closed high of the day, support and resistance in this price chop. inside day. chop chop until t is not. MNKD daily chart. schrts.co/WsaUywHx |
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Post by cretin11 on Dec 19, 2023 16:20:24 GMT -5
Good question sports, especially considering he "transferred 66,892 shares of MNKD common stock to his ex-spouse pursuant to a divorce decree on September 5, 2023." This time he sold over 200,000 shares (coincidentally at exactly $4 on the only day in a two month period when share price touched $4). hellodolly is saying "this is a court ordered or forced transaction" but is that speculation or has that been confirmed anywhere? Anderson's explanation based on 10K and 10B5-1 Plan was also very helpful and preferable because it is based in evidence of real-world regulated stock sales transactions instead of speculative hyperbole of a criminal nature.
"speculative hyperbole of a criminal nature"? What a phrase, I've never seen it be a criminal act to engage in speculative hyperbole, but I suppose it's theoretically possible. Or if you're suggesting our ceo's stock sale was somehow criminal in nature, I wouldn't do that without some evidence of it. To that point, awesomo began the discussion without suggesting any such criminality, as he clearly said "coincidentally" referring to the trades. My posts on the topic have likewise included no suggestions of criminality. Just setting the record straight in case you're trying to imply otherwise (though your post is clumsily worded and therefore unclear). |
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