More like ex-insider. Still not good since he used to to be the COO and knew where things stood.
Seong Sik Shin, an insider of Uni-Pixel, recently disposed of 10,000 shares of the company. The disposals took place at $5.48 per share, on April 30, 2014. Shin no longer owns any shares of the company. Shin operates out of The Woodlands, TX.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. Uni-Pixel next reports earnings on May 08, 2014.
Shin Seong Sik who filed the FORM 4 [Form filed by One Reporting Person] states "Former Chief Operating Officer"
On 3/31/14 he exercised 4,000 [code M – Exercise of conversion of derivative security] for $7.13 then immediately disposed of them in that same filing at $7.67.
[CODE S – Open market or private sale of securities]
That left him with his original 10,000 shares which he disposed of on 04/30/14.
Why he didn't keep the 4,000 converted shares? Is anybody's guess.
It could be he kept the 10,000 shares until the last day to sell knowing there's success coming real soon? But his deadline came before any news release.
HOPEFULLY, The company held off news of success until (he's on the outs) after his deadline?