I would have guessed that insiders would have bought more shares than that given that 7.5% were reserved for insiders. Maybe they were purchased by people not covered by requirements to make SEC filings such as children. That is my guess anyway.
Anyone else have an explanation for the lack of inside participation?
Maybe it wasn't the sweetheart deal I thought it was? There is a 90 day lockup period but the reality is that when the BOD or an officer buys they really can't sell without making the company look bad. If I were in that position I'd loan or give the money to my kids assuming it is a good deal to buy the shares and then flip them when the lockup expires.
My impression of this company is: They don't know what the f^ck is happening anyway. This is one of those that does a secondary and when it goes up, all those that had access to it sell into it. period.