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ImmunoGen, Inc. Message Board

  • jrus2010 jrus2010 May 2, 2011 3:48 PM Flag

    Continued selling by ex-CEO

    Mitch Sayare continues to sell. He hasn't seen these prices for a decade, and if a financing occurs he can kiss these prices good bye. Yeah, automatic selling...right.

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    • Mitch is a smart man, and managed to sell about 25% of his holdings before this financing was announced. Its worth noting what happened last time IMGN did same type of financing in May 2010. Stock was down 20% by 3 trading days later and still had not recovered 3 months afterwards to pre-financing levels.

    • LOL, it took me a second, i was reading your post and thinking, the last thing I would buy is cedar chips, LOL.

    • If you were that flush with crazy money wouldn't you be tempted to spend it all on hookers and blow? Or maybe he will just put the cash in a modest mutual fund to grow it a bit more. I wish I had decisions like that to make. I would probably buy a bunch of cedar chips, a gold plated exercise wheel, and and have a Chihuly water bottle custom made for my habitat. And maybe one of those great big hamster exercise balls I could roll around the place in.

      Chinese Hamsters

    • Never met a rich man who didnt want more, the more I make the more I feel I just need a little more. When I had nothing I thoght how wonderful it would b to have 10k saved, when I hd 10k I thought how wonderful to have 20k

    • If you will read the footnotes to the Form 4 you will see:

      "The transactions reported in this Form 4 were effected pursuant to a 10b5-1 trading plan executed by the reporting person on February 10, 2011"

      Thus, Mitch made the decision to sell long before the share price took off.

    • As I understand it He married into a very rich family and needs for not.

    • Let's see 110K shares x $13 a share is about $1 million after taxes. For me, that would buy me a nice house, and a couple of very nice rides to put in the garage. And I still would have 400K shares still left to sell later on?

      When exactly should an ex-CEO take his profits. Don't forget as a company officer he likely made some nice coin just in salary and other deferred compensation. Also, as an ex-CEO he is still subject to trading on any insider information, but since he is an ex-CEO why would he have access to critical informaiton any longer? He is doing the diligent thing and diversifying out of a huge position in a single stock. Nothing more. You would do the same, especially as you point out we are multi-year highs and the overall stock market is looking a little tippy these days.

      Chinese Hamsters

    • Sayare continues to sell. Since March 2011, he has unloaded 90K shares and just registered another 20K shares to sell yesterday. This is over 20% of his holdings that he has now unloaded.

    • I hope he doesn't sell all of them before it pops big time:)

 
IMGN
14.53+0.13(+0.90%)Jul 7 4:00 PMEDT