I wish that I had paid closer attention to the insider sales before I bought at $0.10, but I refuse to take a loss. I just hope that my first notion of the future of solar power will bring this up for a nice profit.
He is still selling every day the market is open. If this company goes lights out he should get the Scrushy treatment since he was selling when he was recommending to everyone one else that "he sees no better time to buy than right now" Now I see that his holdings have jumped from about 1.4 million up to over 2 million while selling, so I guess he has some new vested options? Listen up Nelson trust he said now is the best time ever to buy, not sell! What a farce!
If the company is so great and the earning report would be good then why CEO is keep selling his stock? He should be in a quite period these days and should not allowed to sell any stock. Is there any bad news coming?
Please see the website -- investor FAQ #9
9. Why do officers and directors occasionally sell some of their shares of the company's stock?
As disclosed in our public filings, some of our officers and directors receive equity rewards based on performance. These rewards include restricted stock grants and incentive stock options. Specific details of these incentive plans, including performance goals, vesting schedules and conversion requirements are disclosed in documents filed with the Securities and Exchange Commission (SEC). Further, trading of the company's common stock by officers and directors is governed by certain SEC rules.
In most cases, receipt of vested shares is a taxable event. In order to pay income taxes and other expenses, holders must often sell shares in the open market. Shares may be sold according to a broker managed 10b-5 selling plan. Once the plan is in place, a broker periodically sells shares, according to certain formula and guidelines in the plan, including possible impact on market prices. This removes the stockholder from the stock trading decision-making process and eliminates potential conflicts arising from the holder's knowledge of inside information.
From time to time, we may issue shares of common stock to acquire other companies. As a result, members of an acquired company's management team may receive shares of Solar3D common stock, which may constitute a taxable event for the holders. Some or all of these shares may be sold in the open market, and may be subject to a 10b-5 selling plan disclosed in public filings.
Our Board of Directors believes that it is in the best interest of our shareholders to provide equity incentives to key members of the management team, some of whom may be working full time at less than market rates. Even though equity incentives represent dilution for current shareholders, the Board believes that equity incentives help align the interests of management with the interests of our shareholders.