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Post by harshal1981 on Apr 24, 2015 20:33:53 GMT -5
Unfortunately we will see even more damage to the share price now that Hakan offloaded additional 73k shares. (he exercised options and sold it on open market).
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Post by savzak on Apr 24, 2015 22:33:47 GMT -5
I know it's only 73k shares and that he is still massively invested in MNKD. But coming right now, when we longs are just battered and bruised and beaten, this bit of news has me feeling like the bed of a crap wagon, just waiting for next shovel full. I don't know where the bottom is, but based on the way I, a very strong long, am feeling right now, I fear a major round of capitulation may be in the offing.
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Post by BlueCat on Apr 24, 2015 22:43:40 GMT -5
Isn't just another one of those automatic sells? I can't seem to grep what the schedule is, but the amount is generally pretty consistent for him, as is the option exercise.
True - just wish they'd cut it out already.
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Post by lynn on Apr 24, 2015 22:51:54 GMT -5
I am so naive to this but is there a way to search back in Apple or Tesla to see if they had similar trends , I've read that they did but don't have links & could be wrong but I recall CEO Élan Musk almost bankrupting his company before TSLA took off ...
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Post by jpg on Apr 24, 2015 23:35:56 GMT -5
I know it's only 73k shares and that he is still massively invested in MNKD. But coming right now, when we longs are just battered and bruised and beaten, this bit of news has me feeling like the bed of a crap wagon, just waiting for next shovel full. I don't know where the bottom is, but based on the way I, a very strong long, am feeling right now, I fear a major round of capitulation may be in the offing. I, like all of you here, don't like this but the guy is human also and lives and breaths Mannkind. Do you not think he has the same sick feeling to his stomach seeing his 1.1 million shares lose value? Maybe I'm wrong but selling less then 7% of your shares when you work there and that is the bulk of your net worth and that you will get more options eventually: is that so surprising? |
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Post by scvhouses on Apr 24, 2015 23:38:16 GMT -5
So disappointed in Hakan. I think I will go TP his house. That dirty rat!!!
We need to show confidence by Management not by what they say but by what they DO
Cindy
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Post by gamblerjag on Apr 24, 2015 23:59:24 GMT -5
he could have sold them at 6 or 7 a couple of months back.. nothing has changed for MNKD ; reviews are better than ever and weekly scripps are still increasing except one week.. I'm guessing him selling has nothing to do with MNKD being in trouble.. but then again.. i'm usually a 1/2 glass full kind of guy.
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Post by babaoriley on Apr 25, 2015 1:51:13 GMT -5
I think he actually controls a lot more than 1.1 million shares; I heard somewhere it was closer to 3 or 4 million shares.
He's the CEO, and my guess is his wealth is likely tied up in MNKD (stock and job) and his personal real estate. I would diversify, too. If I only held MNKD now, I'd be far more worried than with the nice, diversified bunch of gambling stocks I own. I mean, he's a potentially very wealthy man, but we all know there's risk, like long term effects, why wouldn't you want to diversify a bit. If Afrezza sells like we think, even 2,000,000 shares will be more than enough.
I think a person could talk themselves right out of their convictions if you go by such selling. It only makes sense for these guys to do just that.
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Post by savzak on Apr 25, 2015 5:27:06 GMT -5
I know it's only 73k shares and that he is still massively invested in MNKD. But coming right now, when we longs are just battered and bruised and beaten, this bit of news has me feeling like the bed of a crap wagon, just waiting for next shovel full. I don't know where the bottom is, but based on the way I, a very strong long, am feeling right now, I fear a major round of capitulation may be in the offing. I, like all of you here, don't like this but the guy is human also and lives and breaths Mannkind. Do you not think he has the same sick feeling to his stomach seeing his 1.1 million shares lose value? Maybe I'm wrong but selling less then 7% of your shares when you work there and that is the bulk of your net worth and that you will get more options eventually: is that so surprising? I agree with everything you wrote but I think you may've missed my point. I wasn't criticizing him for selling 73k shares. The point of my post was to address the sentiment of long investors given the totality of our current circumstances. The sale was his right, I just think it's unfortunate for longs who would like to see their accounts stop losing substantial value every day. |
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Post by gomnkd on Apr 25, 2015 8:07:45 GMT -5
Folks who get options are forced to sell to pay the tax man. It is hard to judge someone without knowing their background, family circumstances, risk tolerance etc.
you'll be surprised how people with big income have little wealth, due to liabilities. I can't forgive an executive who sells everything without owning a single share.
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Post by esstan2001 on Apr 25, 2015 8:27:39 GMT -5
I agree with everything you wrote but I think you may've missed my point. I wasn't criticizing him for selling 73k shares. The point of my post was to address the sentiment of long investors given the totality of our current circumstances. The sale was his right, I just think it's unfortunate for longs who would like to see their accounts stop losing substantial value every day. savak in the end, it really amounts to noise about something not in our control. Take the long view. We are either going to be right based on our conviction, or wrong. Keep the near term focus on the real data to keep the assessment accurate. ...and I don't think I'm telling you anything new that you don't do already. |
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Post by sonic22 on Apr 25, 2015 10:06:15 GMT -5
Hey guys,
this was a 10B5-1 plan sale. You can check it out on the 8-K filing. His exercised price was $1.69 so he tripled his money...he still holds 1M shares and also another 300K in options...his selling was less than 10% of his controlling shares...As I mentioned before these plans are predetermined usually years in advance to sell and let insiders do it with no insider trading. Again we can agree or disagee with insider selling but these 10B5-1 plans are right now the best way for insiders to sell.. imagine if he cancelled this sale(as our boy AF wants all MNKD execs to do) and at earnings in 2 weeks they announce the new manufacturing lines or some technosphere partnership. If he cancelled the sale and then the news hit as I mentioned and the stock increased and then he sold he would be in serious trouble of violating insider trading rules.
As Baba mentioned these guys are still very heavily concentrated in MNKD stock and it doesn't hurt to sell from time to time a bit especially with a 10B5-1 plan that is pre determined. Now if he sold 250K on his own then I would agree that we might have an issue. |
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Post by savzak on Apr 25, 2015 10:48:53 GMT -5
I agree with everything you wrote but I think you may've missed my point. I wasn't criticizing him for selling 73k shares. The point of my post was to address the sentiment of long investors given the totality of our current circumstances. The sale was his right, I just think it's unfortunate for longs who would like to see their accounts stop losing substantial value every day. savak in the end, it really amounts to noise about something not in our control. Take the long view. We are either going to be right based on our conviction, or wrong. Keep the near term focus on the real data to keep the assessment accurate. ...and I don't think I'm telling you anything new that you don't do already. Esstan, sure I know that. I'm not on the verge of selling my position. I've had "the long view" for about 8 years now. Unfortunately, in the near term, the only "real data" we have had has been scripts numbers which are ramping very slowly. As I told a group of friends yesterday, I think we'll continue to trend down until either scripts clearly improve or we get solidly good news on some other front. Of course, at some price point we'll find buyers but I've no idea where that will be at this point. Maybe the 52 week low will hold. I certainly hope so. The real point of my initial post is that I'm beginning to fear there will be real capitulation if we don't get some positive data or positive news soon and the pps continues to inflict psychological pain on a daily basis. If that happens, a lot of shorts cover and well positioned traders will benefit handsomely, but I won't be one of them. I'll be numb at best, physically ill at worst. |
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Post by babaoriley on Apr 25, 2015 11:34:18 GMT -5
I know it's only 73k shares and that he is still massively invested in MNKD. But coming right now, when we longs are just battered and bruised and beaten, this bit of news has me feeling like the bed of a crap wagon, just waiting for next shovel full. I don't know where the bottom is, but based on the way I, a very strong long, am feeling right now, I fear a major round of capitulation may be in the offing. savzak, I went back and reread your original post, quoted above ("bed of a crap wagon" - country colorful!). Your point is well taken! I can feel it myself and have talked to other longs that feel it, too. I have reacted to it in the following way. I haven't been as active here, I don't read all the posts, in fact only a few, and I have buried my head in the sand on the share price. If we have a major capitulation in share price, I can only be prepared to bear it, and I'm not selling (but see below), so I'm already in psychological defensive mode of "I don't care." I can pull this off pretty good in part because work has been busy, and I have a lot of other stocks on which to focus. As to selling, I will admit that a while back I sold a bunch of Aug $5 strike covered calls at a time when the stock was at $5.30 or so - I got some decent money for that sale and I fully felt that the stock would be called away, and still hope that it will. I have more than enough stock, when I take into account all my naked puts I will eventually have to answer for. Bottom line - I feel strongly we will eventually be vindicated and rewarded, and I'll be damned if I am going to let all those shorts and other market forces bring me down (too much) - screw them, I'm not going to get depressed over the share price. |
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Post by savzak on Apr 25, 2015 12:20:25 GMT -5
I have reacted to it in the following way. I haven't been as active here, I don't read all the posts, in fact only a few, and I have buried my head in the sand on the share price. If we have a major capitulation in share price, I can only be prepared to bear it, and I'm not selling (but see below), so I'm already in psychological defensive mode of "I don't care." Baba, this is exactly the technique I've used to weather our storms in the past. I've already begun to unplug as well. I've been reading the board much less diligently, primarily because it's a bit harder to keep up with as a result of the added activity. I haven't quite buried my head in the sand as you put it, but I've been there before and I think I'm headed there once again. I did not expect that I'd need to go into shut down mode again with this investment once Afrezza was approved and particularly once the partnership was announced. |
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