While it occurred 2 days ago, I think the market will discount this tomorrow. as it went across the wires at 17:20 today, possible red day tom. He exercised 239,646s as well.
Why did he sell so much at just $4.10 - I don't like to see CEO selling so much. I felt like I bought some of his dumped shares when I was acquiring at $4.10 a few days ago. I sold some yesterday at $4.69 - $4.80 but now worried after seeing CEO's selling. We may have to deal with dilution due to increased capital structure which may put some pressure on stock given they would have to offer millions of stocks at 10 to 15% discount to attract investors. I still like this company and see a great future but dislike when management escpecially CEO is selling in large quantity.
Should run the numbers...Options exercised in Feb amounted to a $2.1 mil taxable gain. He sold $700k worth of stock, which would barely cover the taxes. The stock he kept doubled his holdings. This exercise/sale covers taxes plus the cost of buying additional 48k shares. DeBello is NOT cashing out, but increasing his exposure, because the stock has so much upside. By the way, other insiders have also been net buyers through option exercises.