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Boston Scientific Corporation Message Board

  • bsxisgood bsxisgood Aug 9, 2012 3:18 PM Flag

    More insider buys...

    Mario Ernest bought 32,000 shares on 8/6 @ 5.29

    Recent insider buys:

    Mario Ernest 32,000 shares on 8/6 @ 5.29
    Hank Kucheman 10,000 shares on 7/31 @ 5.21
    Michael Mahoney 22,000 shares on 7/31 @ 5.19

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Earnest was a buyer at $6.82 also, so I don't think you can rely on his judgement.

    • so what, insiders Nicholas and Abele dumped a million shares in the past few weeks, if anything there are far more net insider sells than buys

      • 1 Reply to jellviet
      • Get you facts straight. Below is the explanation for the Nicholas and Abele sales. They are transferring share's to a bank as part of a forward sales contract. Read the SEC filings. Dont just read yahoo finance insider information.


        (1)On March 1, 2010, the reporting person entered into a trading plan intended to comply with the requirements of Rule 10b5-1 with an unaffiliated commercial bank to execute a series of variable prepaid forward sale contracts. On August 6, 2012, the reporting person settled a prepaid variable contract originally entered into on August 6, 2010 through the delivery of 490,000 shares of the Issuer's common stock. At the initiation of the contract, the bank paid $1,910,723.57 to the reporting person. See also footnote 2.
        (2) In accordance with the variable prepaid forward sale contract, when settled in shares the number of shares to be delivered to the bank at maturity depends on the market price per share at maturity, but may not exceed 490,000 shares. If the market price per share at maturity was equal to or less than the floor price of $5.7051 per share, the reporting person would deliver 490,000 shares to the bank. If the market price per share at maturity was greater than the floor price, the reporting person would deliver a fewer number of shares. The market price per share at maturity on August 6, 2012 was $5.26. Accordingly, the reporting person transferred 490,000 shares of the Issuer's common stock to the bank.
        (3) Common stock held by the reporting person's wife. The reporting person disclaims beneficial ownership of these shares.
        (4) Common stock held by trust for the benefit of the reporting person's child of which the reporting person is a trustee. The reporting person disclaims beneficial ownership of these shares.

 
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