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Post by sla55 on Jul 18, 2016 17:52:52 GMT -5
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Post by anderson on Jul 18, 2016 18:04:06 GMT -5
So she acquired 6294 share through the employee stock plan at $1 and sold them for $1.06 which would net her $377.64, she still holds 131413 shares. Like people say, "Many reasons to sell, Only one reason to buy."
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Post by avichen on Jul 18, 2016 20:44:06 GMT -5
yeah, I scares me a lot... it brought me back to SUNE. before it heads to bk, their finance girl sold a small amount of shares, people aren't aware of it until it goes bk. I wish this is not true for MNKD.
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Post by ricguy on Jul 18, 2016 21:03:00 GMT -5
yeah, I scares me a lot... it brought me back to SUNE. before it heads to bk, their finance girl sold a small amount of shares, people aren't aware of it until it goes bk. I wish this is not true for MNKD. seems not just you, noPosition on stock twits feels the same as you. |
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Post by anderson on Jul 19, 2016 3:55:43 GMT -5
Hope Matt has a talk with her about the optics of what she did. Looks like she filed her first form 3 29FEB16 of this year, so maybe she didn't think about the reporting requirement since she didn't have it before. Since the shares were through the Employee Stock Purchase Plan it looks like there was a $.06 arbitrage situation and being a smart finance person she has probably has taken advantage of this in the past to make few dollars when this situation arises(hey it is free money). Now that she is part of the upper management this just fosters the image she(and other management) are out for themselves and are nickle and dime the shareholders out of cash(where do you think that $.06 came from). Hopefully this will not happen again and it makes me sad that it happened this once because it shows there is valid concerns by shareholders that say Mannkind's management doesn't care about the shareholders.
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Post by anderson on Jul 19, 2016 4:09:43 GMT -5
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Post by trondisc on Jul 19, 2016 5:26:56 GMT -5
I'm jumping ship should this EVER (and by that I mean nothing short of a miracle) hit $3.40 again. No one way in hell this company will survive unless they are bought out. As long as Pfeffer is at the top, nothing will change.
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Post by LosingMyBullishness on Jul 19, 2016 9:38:13 GMT -5
Why such an uproar. She is basically middle management temporarily in upper management role. Her background is being an accountant and she has been with MNKD since 2003 when MNKD was formed by the merger of three of Al's companies. Quite reasonable to believe that she is risk-averse and did not thought about the reporting.
So, great news, some long-term MNKD employees are not a perfect fit for the present company.
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Post by Deleted on Jul 19, 2016 9:47:44 GMT -5
Why such an uproar. She is basically middle management temporarily in upper management role. Her background is being an accountant and she has been with MNKD since 2003 when MNKD was formed by the merger of three of Al's companies. Quite reasonable to believe that she is risk-averse and did not thought about the reporting. So, great news, some long-term MNKD employees are not a perfect for the present company. I agree its not a huge deal but the timing is very poor. |
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Post by sportsrancho on Jul 19, 2016 11:05:45 GMT -5
Why such an uproar. She is basically middle management temporarily in upper management role. Her background is being an accountant and she has been with MNKD since 2003 when MNKD was formed by the merger of three of Al's companies. Quite reasonable to believe that she is risk-averse and did not thought about the reporting. So, great news, some long-term MNKD employees are not a perfect for the present company. I agree its not a huge deal but the timing is very poor. It's annoying for sure! |
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Post by wmdhunt on Jul 19, 2016 11:16:26 GMT -5
We have no real idea of the reason/s for her sale. Obsessing here is rather unfruitful and signifies nothing to me.
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Post by kbrion77 on Jul 19, 2016 12:23:17 GMT -5
It's $6,000 and it has absolutely no impact to the company. Sales, sales and more sales are the only thing that matters. If you want to point fingers at insider selling go back to Martens and Edstrom who in 2014 and 2015 completely cashed in while many people gave Martens a pass because of his divorce agreement.
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Post by lakon on Jul 19, 2016 12:39:28 GMT -5
I'm jumping ship should this EVER (and by that I mean nothing short of a miracle) hit $3.40 again. No one way in hell this company will survive unless they are bought out. As long as Pfeffer is at the top, nothing will change. A lot has already changed (for the better), but there is always someone trying to ice skate uphill... |
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Post by anderson on Jul 19, 2016 19:00:21 GMT -5
It's $6,000 and it has absolutely no impact to the company. Sales, sales and more sales are the only thing that matters. If you want to point fingers at insider selling go back to Martens and Edstrom who in 2014 and 2015 completely cashed in while many people gave Martens a pass because of his divorce agreement. Note this is all a issue of Trust. Actually it is not $6000 it is $377.64 profit that comes straight out of the shareholders pocket and this is being done by the financial officer of the company. This is bad behavior and shows no awareness to how this will publicly affect the company during a very volatile time. MNKD has be criticized before about management being out of touch and this reinforces it. MNKD has gotten a lot of passes before( I have made a lot of excuses for them as well) but public perception is one that they had learned a long time ago and they are making it again. Making the same mistakes over and over is not acceptable, especially at a time when everyone in the company is tightening the belt and not getting pay raises etc, then the financial officer does this move for $377.64 profit. Very bad move for moral and show she doesn't care about her fellow workers. The question that remain is: Were all MNKD employees able to take advantage of this arbitrage situation? I bet not due to the time constraint of the trade, but the financial officer probably could(ie abuse of her position). This needs to be investigated by management and if she and relatively few other people at the company were in a position to due this, action needs to be taken. I don't think she should be fired from the company, but she is defiantly not ready to become an officer. Note for that $6000 dollar comment 6294 share through the employee stock plan at $1 and sold them for $1.06 which would net her $377.64. Buy and sell the same day, so you dont have to put down the $6294, you just hit the pinata and $377.64 minus trading fees comes out. If MNKD had sold that on the open market they would have gotten that $377.64 not just the $6294 so that means your share value was diluted by a tiny amount. PS Martens had to pay MNKD for some of that insider selling, yeah that is exactly why Rose should have know better and this is so egregious, she was there probably had to do the paperwork for him. Short-Swing Profit Rule www.investopedia.com/terms/s/shortswingprofitrule.aspMartens Juergen's ran afoul of that rule as well, seel th Explanation of Responses in investors.mannkindcorp.com/secfiling.cfm?filingID=1209191-15-46866&CIK=899460 |
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Post by anderson on Jul 19, 2016 19:19:14 GMT -5
We have no real idea of the reason/s for her sale. Obsessing here is rather unfruitful and signifies nothing to me. Please read the Short-Swing Profit Rule www.investopedia.com/terms/s/shortswingprofitrule.aspAnd tell me that the financial officer who should know about this rule just bought and sold shares on the same day and will now be subject to it. IE she will have to pay MNKD the profits from that sale. This is bad publicity and she doesn't even get to keep the cash. This reeks. |
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