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Astex Pharmaceuticals, Inc. Message Board

  • freetoquestionu freetoquestionu May 7, 2013 1:22 PM Flag

    Tim cleared up the 8.3M

    They clump all the options together and it doesn't necessarily mean any of them are exercizeable on june 21. Just a few. Some may have 10 years life. Maybe now Dolt and Bolt can resurface with what little dignity they have remaining. $5.70 will this be a bottom? Not so sure. Still this CEO cannot hold on to any shares. You would think one of the 20 or so ids of jelly could have figured this out. I'm sure they will all show up and try to wiggle their way on to the board and all pretend that they didn't pump the $9 price target.

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    • Then they need to amend the Form DEF 14A Definitive Proxy Statements that they filed with the SEC. It is very explicit. All of the options vest on June 21, 2013:

      (16) See footnotes (4) through (15). Includes 8,393,144 shares issuable upon the exercise of stock options to purchase shares of common stock held by directors and executive officers which are exercisable at June 21, 2013.

      Having over 8% of additional shares potentially hitting the market on June 21, 2013, is a material fact. If, in fact, the options are spread over ten years that is also a material fact.

      • 1 Reply to buysell1929
      • I agree totally Buysell. It's very poorly handled. Here is IR reply about it:

        This is not an option excerize report. This set of listings if for all of the officers, board members and the greater than 5% owners. This is a beneficial ownership report. Individual option grants will be to a price and have 10 year life. These beneficial ownership listings may not even be "in the money". Of the listings you have referenced note 12 refers to Jim's option holdings that he could expertise by June 21st.


        The June 21st date has nothing to do with the expiration of any one grant. My comments this morning was in reference to a single option grant that we filed a separate form 4 filing indicating that he was doing a same day sale on this small option position.

 
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