So we quash the rumors before they start this is directly from the form filed with the SEC. Ron HAD to sell to cover his taxes.
This is a follow up to the SEC filing that came out today 3-25-11 about Ron's sale of 28K shares.
Explanation of Responses:
1. Sale of a total of 28,791 shares of common stock was made in order to satisfy Mr. Bentsur’s income tax withholding obligation upon the vesting of 83,333 shares of restricted stock. Mr. Bentsur had no discretion with respect to such sale, which was transacted automatically in accordance with the Issuer’s corporate policies regarding the vesting of restricted stock.
2. Of the 351,781 shares, 191,667 are shares of restricted stock. In addition, Mr. Bentsur holds vested and unvested stock options to purchase up to 798,840 shares of common stock.
For all of those interested, go to the following link and submit your e-mail address. This will put you on the investor mailing list to get all news reguarding the company (press releases, SEC filings, investor meetings, etc...). I usually see things a few hours before they hit the message board. GLTA
Thank you very much for posting this. I saw the SEC filing and was hearing all the bashers in my head screaming for Ron's head. Just to get ahead of the bashers BS, note that a CEO selling right in the face of a board member buying 20K shares would have a freaking revolt on his hands. We know this is certainly not the case.