Ok I'll play along with the pointless "I told you so" type posts. Yes he didn't buy, but he never sold any of his shares either - just the automatic ones that are part of his salary. People forget that Vijay also lost a significant amount of money because of Allovectin, around 1.5 million dollars (3 years base salary). So for those people like you who say that Vijay was in the know the whole time, and was keeping hush and stealing our money - please feel free to answer the question if Vijay was doing all these evil things why didn't he sell any of his shares? I mean according to people like you he stole from us, lied to us, conned us into buying shares, just so he could collect a paycheck, and yet he kept his core shares despite the fact that he knew well in advance that Allovectin was a failure. What an evil man, how dare he have confidence in a product.
Hi Sweaterpup, Sounds like you follow VJ quite closely...Well I have been following Vical since the late 90"s. I visited VJ and the company...Got the whole tour..Had a pretty good position in the company myself or they wouldn't have taken the time to talk to me. I asked the question why VJ just took free stock, noting his salary at the time was over $600,000 plus benefits...I was told he didn't really want to risk his own money in the stock ...I thought you got to be kidding....he runs the company and takes all the free stuff but screw any risk let others take it....No need to produce ...I got out and stayed out...RULE # 1..If the CEO doesn't believe, you shouldn't either !!!!
A lot of biotech ceo's don't sell granted shares for fear of incrimination in a lawsuit. Its more of a defense mechanism. If they are very questioned on their knowledge of a blinded trial that failed and they were selling shares beforehand, it is big ammunition for a law firm.