DUBLIN, IRELAND (MMD Newswire) March 30, 2012 -- James Healy sold 1,000,000 shares of Amarin Corp Plc\uk stock, or $10,984,727 worth, as noted in an SEC Filing today. As reported in the filing, the transactions occurred between March 28, 2012 - March 29, 2012.
After the transaction, James Healy's stake was reported as 7,513,388 shares of Amarin Corp Plc\uk stock. James Healy's title was listed as "Director" at Amarin Corp Plc\uk within the filing.
As noted on March 30, 2012, James Healy's sale was done indirectly through "See footnote" over 2 transactions from March 28, 2012 to March 29, 2012. The share price ranged from $10.98 to $11.73 according to the regulatory filing detailing the transactions.
If we look over the past 12 months, James Healy has sold a total of 1,000,000 shares of Amarin Corp Plc\uk, proceeds from the sale totaled $10,984,727. Over the same time period, James Healy has purchased no shares of Amarin Corp Plc\uk stock. James Healy has also performed other transactions including exercise of options .
Let's take a quick, high-level look at insider trading at Amarin Corp Plc\uk over the past 12 months. A total of 15,149,224 shares of Amarin Corp Plc\uk stock was sold by insiders, totaling $227,601,192. Over the same time 12 month time period, no shares of Amarin Corp Plc\uk were purchased by company insiders.
Also, while I'm responding to misleading posts during this 10 minutes this morning - why don't you include how many shares Healy still owns of the company? That number seems like it might be important since it's about 7 times that.
I fail to see 1) how this is news, and 2) how this is different than any other company where directors set advance dates to sell their stock via their options - what's the supposed relevance we're supposed to be seeing here?
All you have to do is look at the option price and timing of previous sells, and it makes perfect sense - also, I wouldn't want to invest in a company whose directors either didn't do this, or did this in a way that worked with market news - the SEC tends to frown on that sort of thing.