On Juy 26, ANAD top managers bought shares at $15.20/ea (see below) Is this a great sign or any one would like to comment?
26-Jul-07 HUANG CHARLES CHIN
Officer 9,253 Direct Acquisition (Non Open Market) at $15.20 per share. $140,645
26-Jul-07 SHIELDS THOMAS C
Officer 11,842 Direct Acquisition (Non Open Market) at $15.20 per share. $179,998
26-Jul-07 BASTANI BAMI
Officer 21,711 Direct Acquisition (Non Open Market) at $15.20 per share. $330,007
Wow, we have some naive investors !
These are not BUYS .. They are restricted shares GRANTED to these officers as a form of compensation.
Read "Non Open Market" acquisition.
A true cash purchase would be a direct Open Market Purchase, where they would be using their own money, that is not what you're seeing here.
These are highly suspicious buys if you ask me.
Take Bami for instance.
He sold 23,373 shares on 7/31/07. He sold more than he purchased. He's right back where he started from.
He purchases right after earnings, and sold a slightly larger amount 4 days later.
This smacks of manipulation to me, Why buy open market when he is getting his pockets lined with options?
Bami exercised 50,000 shares on 7/2 then sold 63,000 shares the same day. Then he buys open market? Why would he do that.
Chin had the same pattern. Exercise a ton, sell it all off. Buy open market, wait 4 days and sell most of that.
Now, I am not one to whine about insider selling. Normally insider selling does not mean a thing. Its part of their compensation package and they have to diversify their portfolio.
But I get really suspicious when I see these synchronized buys followed by synchronized sells.
It stinks like yesterday's fish.
You didn't report the most current data available.
You have to read to real and actual SEC filings not some yahoo or Nasdaq.com reader's digest version that do not include footnotes and all the pertinent information when reporting insider transactions.
First, I suggest you all get familiarized with the footnote "Options/Shares issued in conjuntion with the 2005 Long Term Incentive Plan". It is a term that folks should familiarize themselves with when reading ANAD's SEC filings that appear to show insider buying so as to actually understand the difference between Long term Incentive Plan Grants and insider buys being reported to the SEC.
THERE IS NO NEFARIOUS BUYING FOLLOWED BY QUICK SELLING OF MORE THAN WAS BOUGHT. THAT IS ABSOLUTELY PREPOSTEROUS AND ANYONE IMPLYING THIS HAS NOT FULLY READ AND UNDERSTOOD THE SEC FILINGS THAT REPORT ALL INSIDER TRANSACTIONS IN A VERY THOROUGH AND DETAILED MANNER ALBEIT IN A LANGUAGE VALLED LEGALESE THAT IS DIFFICULT TO UNDERSTAND.
You are looking at incentive stock option grant reporting as well as some insider selling in conjuction with said option grants, etc....
I did not realize that so many people had difficulty understanding this kind of commonplace occurance. But to be fair, the SEC's forms are littered with minutae, tiny print, footnotes, and fruity LEGALESE wording.
THANKS for this VERY intriguing news.... Got me back in, albeit in a small way.... Anybody have thoughts about my BIG stake -- SWKS? ... BF? You must have thoughts on a significant competitor in this "smallish" few player niche.