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Post by patten1962 on Feb 4, 2016 6:39:38 GMT -5
I thought Matt comments on this topic was very provocative. I believe he was alluding to the fact they cannot buy any stock at this point because there is information that will be shared very soon. Looking forward to reading your comments on this.
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Post by hankscorpio7 on Feb 4, 2016 8:49:59 GMT -5
Was it a blackout period all last year? He was responding to why no purchases now, but burned shareholders are really alluding to the upbeat conference calls early last year but huge bias to the sell side in insider actions. Another example of "Matt Speak" that several threads have addressed- TASE listing. I imagine we will see a large amount of insider buying in next window- but is that because they have to or they now believe?
Matt understands situation- he has to raise share price but not mislead. But he is promising dilution. The fun never stops.
It is nice to see management respond to several issues on message boards. Like how they stopped insiders from selling. But it would be more encouraging if management had that intelligence innately.
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Post by matt on Feb 5, 2016 7:31:24 GMT -5
Corporate officers and directors have a blackout period at the end of any quarter that extends until the financials for that period are published. This automatically means that insiders cannot buy six months out of the year (at a minimum) due to three periods of 40 days while the 10-Qs are in preparation, and 60 days while the 10-K is in preparation. In addition, if there is any other material event that has occurred or is about to occur of which the officer has knowledge, and in a small company that is pretty much all officers for all material events, that creates another blackout period until an 8-K is filed. Likewise, trading is restricted when there is a pending registration statement at the SEC that has yet to go effective.
Selling has the same restrictions unless the sale is made under a 10b-5 plan. Given that a company with a lot of activity can wind up with rolling blackout dates, it is not unusual to sell almost all officers dumping shares within one of the few narrow windows available. The officers are not to blame, the purchase and sale patters are driven by the SEC requirements.
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Post by vestful on Feb 5, 2016 7:47:39 GMT -5
Corporate officers and directors have a blackout period at the end of any quarter that extends until the financials for that period are published. This automatically means that insiders cannot buy six months out of the year (at a minimum) due to three periods of 40 days while the 10-Qs are in preparation, and 60 days while the 10-K is in preparation. In addition, if there is any other material event that has occurred or is about to occur of which the officer has knowledge, and in a small company that is pretty much all officers for all material events, that creates another blackout period until an 8-K is filed. Likewise, trading is restricted when there is a pending registration statement at the SEC that has yet to go effective. Selling has the same restrictions unless the sale is made under a 10b-5 plan. Given that a company with a lot of activity can wind up with rolling blackout dates, it is not unusual to sell almost all officers dumping shares within one of the few narrow windows available. The officers are not to blame, the purchase and sale patters are driven by the SEC requirements. matt, thanks for another educational post. I didn't realize how acutely small of an opportunity executives have to buy and sell. Eyeopening |
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Post by patten1962 on Feb 5, 2016 10:47:26 GMT -5
Corporate officers and directors have a blackout period at the end of any quarter that extends until the financials for that period are published. This automatically means that insiders cannot buy six months out of the year (at a minimum) due to three periods of 40 days while the 10-Qs are in preparation, and 60 days while the 10-K is in preparation. In addition, if there is any other material event that has occurred or is about to occur of which the officer has knowledge, and in a small company that is pretty much all officers for all material events, that creates another blackout period until an 8-K is filed. Likewise, trading is restricted when there is a pending registration statement at the SEC that has yet to go effective. Selling has the same restrictions unless the sale is made under a 10b-5 plan. Given that a company with a lot of activity can wind up with rolling blackout dates, it is not unusual to sell almost all officers dumping shares within one of the few narrow windows available. The officers are not to blame, the purchase and sale patters are driven by the SEC requirements. matt, thanks for another educational post. I didn't realize how acutely small of an opportunity executives have to buy and sell. Eyeopening I think this is another positive thing in our favor |
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Post by seanismorris on Feb 5, 2016 11:12:04 GMT -5
Officers in public companies buy stock all the time. Sure there are restrictions and it takes some planning...
Hopefully Matt buys when he can and stops with the BS excuses. It doesn't even need to be that much, like 50K. He's getting paid as a CFO rather than CEO...
It would add quite a bit to his credibility.
The CMO buying would also be nice. It looks like he's stepping up which I appreciate.
I don't care about the rest of management, they have ZERO credibility anyways with all the past selling.
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Post by agedhippie on Feb 5, 2016 15:01:33 GMT -5
10b5-1 plans can also be used to buy as well as sell stock and Matt could use one to start buying now. They provide an affirmative defense to insider trading charges.
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Post by mnkdfann on Feb 6, 2016 11:21:20 GMT -5
I don't care about the rest of management, they have ZERO credibility anyways with all the past selling. History suggests they made the right move by selling, so I think it would be a huge positive / vote of confidence to see them turn around and start buying sometime soon. |
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Post by kc on Feb 6, 2016 13:18:32 GMT -5
Officers in public companies buy stock all the time. Sure there are restrictions and it takes some planning... Hopefully Matt buys when he can and stops with the BS excuses. It doesn't even need to be that much, like 50K. He's getting paid as a CFO rather than CEO... It would add quite a bit to his credibility. The CMO buying would also be nice. It looks like he's stepping up which I appreciate. I don't care about the rest of management, they have ZERO credibility anyways with all the past selling. I bet he has lots of options the vest in the event of a sale of the company. So he probably is in good shape no matter what happens which is a reason why he probably is not buying |
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Post by Deleted on Feb 6, 2016 13:41:20 GMT -5
Officers in public companies buy stock all the time. Sure there are restrictions and it takes some planning... Hopefully Matt buys when he can and stops with the BS excuses. It doesn't even need to be that much, like 50K. He's getting paid as a CFO rather than CEO... It would add quite a bit to his credibility. The CMO buying would also be nice. It looks like he's stepping up which I appreciate. I don't care about the rest of management, they have ZERO credibility anyways with all the past selling. I bet he has lots of options the vest in the event of a sale of the company. So he probably is in good shape no matter what happens which is a reason why he probably is not buying 800k for a ceo is not a ton of money. A lot of people make like it is. He has a ton of options vested to this company in seeing it succeed. |
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