Zhang Yong filed Form 144 on Aug 29, Sept 3 and Sept 5 for sales totaling 700K shares. Does he still own any shares? On Oct 22 Cai Yong (relative?) sold 135K. On Sept 4, Zinfier Hao, Exec. VP of HR, sold 33,334 shares. Lastly, Gurnee sold 430K shares on Sep 6, which is a small amount of his portfolio if he owns 40% of company as Star has posted.
Star already explained that Form 144 is an application to sell restricted shares and that no officer had actually proceeded to sell any shares. Fortunately we have posters on this board that know more than I do about SEC forms. It was an honest mistake on my part. What is it on your part when you post an alert that management is selling over 1M shares without posting where you got this? You asked me for a link to my information and I gave it to you. Where's the link for your source of info?
This is not a recent news.
Why did you use a new ID to post this old news?
BTW, I didn't see the Oct 22 selling.
It should be Sep. or August as well(all the other selling were before Sep. 6)..
Are you trying to mislead other people?
My bad - Cui Yong did file to sell 135K on Sept 6, the transaction date;; Oct 22.was the processing date. All of these filings were processed on Oct 22, which is "recent" news. Since I didn't see any other posts about these filings, I posted this to get some feedback on what this means for us as investors. I already answered you re why I changed my ID so maybe you can read that post again at the bottom of this feed. GLTA
I saw the filings now, Zhang Yong sold 700K which is about 2.5% of his holdings on Sep.
He sold those shares for some reason(maybe living expense) but he didn't continue after that.
The fact that TPG invested $100M into the company should give the market enough confidence to believe
the financial reports of XIN and $12 cash value and $12 book value.
I am sure TPG has reviewed their financial reports and checked their bank account for that $860M cash(including restricted cash) - that's $12 per share and decide to invest another $100M cash to the company to have a share of the growth of the company.
I don't have the privilege to review their bank account for those cash and restricted cash but I am sure
TPG had it.
Securities Act Rule 144
I does mean something if insiders sell...the more important question is what does it mean if insiders file form 144 with the SEC for "intended" sale of restricted stock.
---Selling restricted or control securities in the marketplace can be a complicated process. This is because the sales are so close to the interests of the issuing company that the law might require them to be registered. Under Section 5 of the Securities Act of 1933, all offers and sales of securities must be registered with the SEC or qualify for some exemption from the registration requirements. If you have acquired restricted securities or hold control securities and want to publicly sell them, you may need to make special efforts to show that your public sales are exempt from registration.
Rule 144 provides an exemption and permits the public resale of restricted or control securities if a number of conditions are met, including how long the securities are held, the way in which they are sold, and the amount that can be sold at any one time. ---
I posted before under brendaboyd69 and changed to brendabreeze77 b/c I didn't like the old ID (bad connotation), Other ID initially chosen b/c my Zodiac sign for July looks like "69" as it's a poorly drawn crab. Funny you should ask! However, I guess this Board has a history.