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Post by seanismorris on May 29, 2014 1:10:57 GMT -5
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Post by kc on May 29, 2014 13:34:45 GMT -5
Sometimes you need to sell some shares to pay taxes and take care of other living expenses. Would it be wise to hold 100% of your wealth in your own company stock? You read all the time that is is wiser to be diversified and that could be this situation.
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Post by ezrasfund on May 29, 2014 14:23:15 GMT -5
I would pay attention to Matt's sales, however. In the past he has had sell orders that triggered at ($8 last summer?) and in another instance at $10 (before the 1st CRL). I think when his sell orders are triggered it's a good time to take some profits. Wish I had taken more off the table a few times.
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Post by seanismorris on May 29, 2014 16:04:55 GMT -5
I agree sometimes you have to sell stock to pay for living expenses, but he made 5 million last year (including Options). He also likely played an important role (speculation) in Mannkind wiping the floor (with the FDA) at the Adcom. So, he's not an unimportant figure at Mannkind. (I didn't care when HR sold)
My interest in the sale is from the belief that we will see at least a 50% increase in stock price by waiting a few weeks. Why didn't he wait to sell? If he filed an extension on his taxes in April he should have had until October.
A sell order at 8$ would have made sense, but he's had several sells recently and not at prices you'd expect.
Theoretically, if Afrezza was sold but Mannkind's management largely remained intact (to develop Technosphere) who would go with Afrezza? The VP of Operations? Would there be a conflict of interest if he remained a stock hold of Mannkind? (He'd be interacting with Mannkind regularly.)
I'm not counting my money yet, so I'm looking for a tell on which direction Mannkind is going. Maybe be nothing, may be something.
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Post by thekindaguyiyam on May 29, 2014 17:24:04 GMT -5
"Here's a quote I found researching stock options:
If your employment is terminated, unlike vested stock, you will not be able to hold on to your options before or after they are vested. While some consideration may be given to circumstances surrounding why employment was terminated, most often your ESO agreement is terminated with employment, or just after. If options have vested prior to termination of employment, you may have a small window (known as a grace period) to exercise your ESOs."
Good Theory. I see the last sale on the 27 with 417 shares after selling off a ton. Didn't seem to impact the stock price much today. We'll know the whole story in a matter of weeks.
Good Luck To Us.
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Post by ezrasfund on May 29, 2014 17:41:34 GMT -5
From today's 8-K...Taking RSUs (restricted stock units) instead of cash. RSUs don't vest for 5 years (or death or leaving the BOD). Of course this is in addition to bundles more options and RSUs they were all awarded.
Do they know something we don't know?
"Additionally, pursuant to the Directors' Program, certain of our non-employee directors elected to receive additional RSUs in lieu of annual cash retainers, which are set forth in the table below.
Director RSUs (1) RSUs (2)
Ronald J. Consiglio 8,333 1,250
Kent Kresa 10,256 1,538
--------------------------------------------------------------------------------
David H. MacCallum 6,410 962
Henry L. Nordhoff 7,372 1,106
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Post by babaoriley on May 29, 2014 17:58:04 GMT -5
Sean, it may be just prudent investing practice; I completely agree that would be something difficult to recognize for most developmental biotech players! Or, perhaps he holds that stock for the benefit of some family member and they wanted out, for example, they had enough to buy a house and didn't want to risk it.
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Post by seanismorris on May 29, 2014 19:47:59 GMT -5
I may be jumping at shadows today : )
I look at what the stock has done since the beginning of May, and how technically over extended it is, and how everyone is suddenly bullish. And, I'm thinking we might have a significant sell the news event when the FDA approves Afrezza. (I do think it will rebound on the partnership announcement).
So far, I'll agree any shares Marten's sells are being picked up immediately.
I bought more shares before Adcom at 5$ and again at 6$ after Adcom. (Adding to my already oversized position)
With the stock at 6$ I felt really good buying more with the expectation MNKD was looking at a double soon, now the near term upside is less than 50%. ($12 price target)
I think it's time to take another look at what institutions are doing with MNKD. If they are still buying, and it's not just individuals I'll feel better. Thanks.
With regards to the RSUs that's good news that I haven't heard before.
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Post by 4allthemarbles on May 29, 2014 20:24:31 GMT -5
Just want to jump in here. There's a few other situations that could have happened. Depending on the type of (employee) stock options they can also expire. Additionally, some companies, use a version of restricted stock, even though it takes a decent amount of time to vest (think anywhere between 1-5 years) some companies automatically sell enough stock to pay the taxes (covering taxes for the stock the employee still owns) even though the employee didn't set anything to sell, it's automatic. Of course, there is the possibility they just wanted to sell a few shares and buy someone nice. Either way, if we're only talking about a couple of hundred or a couple of thousand shares, out of 100,000 shares, this is really much ado about nothing.
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Post by babaoriley on May 29, 2014 22:18:23 GMT -5
Good points, 4.
Sean, I don't know if you're jumping at shadows or not, but when you say you're position is "over-sized," well, you can fix that tomorrow. Consider taking at least a small step in that direction and it may make your stock investing life a bit calmer. You've made money with your recent purchases, no reason to torture yourself. Of course, if you're like me, you'll kick yourself if the darn thing keeps going up. I agree re sell on approval news (with no partnership), so you may wait for that. I figure it will be a quick spike up, then who knows. But without a partner, we are very vulnerable to a sell on the news event.
As the stock has been going up, I've been buying August puts just in case. Unfortunately, the price of those puts hasn't come down much at all. But knowing I'll get something other than just a headache if the FDA screws us, counts for something.
Gosh, I hope Spiro doesn't read the above until tomorrow morning!
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Post by trenddiver on May 29, 2014 22:59:06 GMT -5
I'd be worried if there was a Form 4 for Big Al. Other than that, any other insider selling is just "noise".
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Post by seanismorris on May 30, 2014 12:13:34 GMT -5
Baba,
Do you have an app to see if the spike up today was the result of a large block of MNKD being bought or was it just a bunch of smaller ones grouped together? The former may suggest institutional buying...
At my old company the IR person liked to look at each buy/sell order for clues.
Or, anyone have a tracking app to recommend?
I think we are at the point we need to be alerted when the stock price jumps or the shares of MNKD are halted (for an announcement). I don't want to find out an hour or two later...
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Post by babaoriley on May 30, 2014 16:50:06 GMT -5
Can't help you, Sean.
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Post by chmith27 on May 30, 2014 18:43:11 GMT -5
i want the app that alerts me a day before a stock is halted. that way i can post it on ymb and let everyone know that armageddon is upon us!
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