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Post by Deleted on Sept 1, 2016 14:00:32 GMT -5
Institutional investors with more than 5% and 10% of the outstanding shares are required to report any transactions to the SEC, so any development like what @reverselo is describing would become public knowledge. The last time I looked (and posted) the Mann Group had increased its holdings by 2 million shares. I saw your post. Wasn't that increase dated prior to the foundation informing MNKD that they could sell some or all shares. Something changed in those couple of months as they are opposite directions. I am aware that they must report but what I do not know is when it has to be reported by. The timing of the insider buys are to coincidental, IMO. If it was the foundation selling shares this week causing the downdraft, we won't know for a few months at the earliest as they aren't required to notify in real time. I also think this is a bit relevant from mnkd's 2015 10-Q: "Our Executive Chairman and principal stockholder may be able to heavily influence our direction and policies as a result of his ownership of our common stock, and his interests may be adverse to the interests of our other stockholders. After his death, his stock will be left to his funding foundations for distribution to various charities, and we cannot assure you of the manner in which those entities will manage their holdings.*" "Subject to compliance with United States federal and state securities laws, Mr. Mann is free to sell the shares of our stock he holds at any time. Upon his death, we have been advised by Mr. Mann that his shares of our capital stock will be left to the Alfred E. Mann Medical Research Organization (“AEMMRO”), and AEM Foundation for Biomedical Engineering (“AEMFBE”), not-for-profit medical research foundations that serve as funding organizations for Mr. Mann’s various charities, including the Alfred Mann Foundation (“AMF”), and the Alfred Mann Institutes at the University of Southern California, the Technion-Israel Institute of Technology, and Purdue University, and that may serve as funding organizations for any other charities that he may establish. The AEMMRO is a membership foundation consisting of nine members, including Mr. Mann, his wife, three of his children and Dr. Joseph Schulman, the chief scientist of the AEMFBE. The AEMFBE is a membership foundation consisting of five members, including Mr. Mann, his wife, and the same three of his children. Although we understand that the members of AEMMRO and AEMFBE have been advised of Mr. Mann’s objectives for these foundations, once Mr. Mann’s shares of our capital stock become the property of the foundations, we cannot assure you as to how those shares will be distributed or how they will be voted." Given the number of institutions the stock has been spread over, I'm not knowledgeable enough to know what reporting requirements are in place for all involved. Maybe we'll get some clarification over the next 6-12 months.
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A rock...
Sept 1, 2016 14:37:01 GMT -5
via mobile
Post by obamayoumama on Sept 1, 2016 14:37:01 GMT -5
I saw your post. Wasn't that increase dated prior to the foundation informing MNKD that they could sell some or all shares. Something changed in those couple of months as they are opposite directions. I am aware that they must report but what I do not know is when it has to be reported by. The timing of the insider buys are to coincidental, IMO. If it was the foundation selling shares this week causing the downdraft, we won't know for a few months at the earliest as they aren't required to notify in real time. I also think this is a bit relevant from mnkd's 2015 10-Q: "Our Executive Chairman and principal stockholder may be able to heavily influence our direction and policies as a result of his ownership of our common stock, and his interests may be adverse to the interests of our other stockholders. After his death, his stock will be left to his funding foundations for distribution to various charities, and we cannot assure you of the manner in which those entities will manage their holdings.*" "Subject to compliance with United States federal and state securities laws, Mr. Mann is free to sell the shares of our stock he holds at any time. Upon his death, we have been advised by Mr. Mann that his shares of our capital stock will be left to the Alfred E. Mann Medical Research Organization (“AEMMRO”), and AEM Foundation for Biomedical Engineering (“AEMFBE”), not-for-profit medical research foundations that serve as funding organizations for Mr. Mann’s various charities, including the Alfred Mann Foundation (“AMF”), and the Alfred Mann Institutes at the University of Southern California, the Technion-Israel Institute of Technology, and Purdue University, and that may serve as funding organizations for any other charities that he may establish. The AEMMRO is a membership foundation consisting of nine members, including Mr. Mann, his wife, three of his children and Dr. Joseph Schulman, the chief scientist of the AEMFBE. The AEMFBE is a membership foundation consisting of five members, including Mr. Mann, his wife, and the same three of his children. Although we understand that the members of AEMMRO and AEMFBE have been advised of Mr. Mann’s objectives for these foundations, once Mr. Mann’s shares of our capital stock become the property of the foundations, we cannot assure you as to how those shares will be distributed or how they will be voted." Given the number of institutions the stock has been spread over, I'm not knowledgeable enough to know what reporting requirements are in place for all involved. Maybe we'll get some clarification over the next 6-12 months. They are required to file a form 4 since they are a greater than 5% share holder
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Post by Deleted on Sept 4, 2016 12:05:16 GMT -5
If it was the foundation selling shares this week causing the downdraft, we won't know for a few months at the earliest as they aren't required to notify in real time. I also think this is a bit relevant from mnkd's 2015 10-Q: "Our Executive Chairman and principal stockholder may be able to heavily influence our direction and policies as a result of his ownership of our common stock, and his interests may be adverse to the interests of our other stockholders. After his death, his stock will be left to his funding foundations for distribution to various charities, and we cannot assure you of the manner in which those entities will manage their holdings.*" "Subject to compliance with United States federal and state securities laws, Mr. Mann is free to sell the shares of our stock he holds at any time. Upon his death, we have been advised by Mr. Mann that his shares of our capital stock will be left to the Alfred E. Mann Medical Research Organization (“AEMMRO”), and AEM Foundation for Biomedical Engineering (“AEMFBE”), not-for-profit medical research foundations that serve as funding organizations for Mr. Mann’s various charities, including the Alfred Mann Foundation (“AMF”), and the Alfred Mann Institutes at the University of Southern California, the Technion-Israel Institute of Technology, and Purdue University, and that may serve as funding organizations for any other charities that he may establish. The AEMMRO is a membership foundation consisting of nine members, including Mr. Mann, his wife, three of his children and Dr. Joseph Schulman, the chief scientist of the AEMFBE. The AEMFBE is a membership foundation consisting of five members, including Mr. Mann, his wife, and the same three of his children. Although we understand that the members of AEMMRO and AEMFBE have been advised of Mr. Mann’s objectives for these foundations, once Mr. Mann’s shares of our capital stock become the property of the foundations, we cannot assure you as to how those shares will be distributed or how they will be voted." Given the number of institutions the stock has been spread over, I'm not knowledgeable enough to know what reporting requirements are in place for all involved. Maybe we'll get some clarification over the next 6-12 months. They are required to file a form 4 since they are a greater than 5% share holder I understand that, but when do they have to file it by?
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Post by rockstarrick on Sept 5, 2016 11:22:22 GMT -5
They are required to file a form 4 since they are a greater than 5% share holder I understand that, but when do they have to file it by? Within a certain time period.
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Post by obamayoumama on Sept 5, 2016 14:14:00 GMT -5
I understand that, but when do they have to file it by? Within a certain time period. Same as any other insider 2 business days I believe
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Post by rockstarrick on Sept 5, 2016 15:45:49 GMT -5
Within a certain time period. Same as any other insider 2 business days I believe I was being a smart a_s all in fun though.
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Post by boytroy88 on Sept 5, 2016 15:55:42 GMT -5
They are required to file a form 4 since they are a greater than 5% share holder I understand that, but when do they have to file it by? Wiki says 10%...and by end of second business day...
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