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Cirrus Logic Inc. Message Board

  • A Yahoo! User Nov 2, 2012 7:45 PM Flag

    Jason Rhode sold 50,000 shares on Nov 2 at $40 each

    Jason Rhode sold 50,000 shares on Nov 2 at $40 each

    What do you think?

    I am long but very annoyed by this fact. Shame on this CEO.

    Sentiment: Buy

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    • Nice try shortie, but CRUS management delivered superb earnings that would normally cause the stock to rally. I'm certain that mgmt had no idea that there would be a short attack on their stock.

      And FYI, the (2) insider sales on 11/1 & 10/31 reported by SEC Form 4's were Rule 10B5-1 PLANNED SALES:


      "Explanation of Responses:
      (1) The transactions reported on the Form 4 were effected pursuant to a Rule 10B5-1 Plan adopted by the reporting person on 1/31/12. "

      Thomas Scott & Jason Rhode have had planned sales at the beginning of each month for a while now.

      People don't "massively short" stocks when just 2 insiders sell.

      Studies have shown insider sales have no predictive value for stock direction. Insider buys do have predictive value.

    • could be year end sell stocks for various reasons...

      • 1 Reply to bavaris7
      • Could be many just don't get it, He sold a split moment after earning release causing massive shorts' raid as a result .... not ethical for sure... why in a hurry ? he knew the stock price was going to plummet , leaving shareholders with significant drop... the guy has done it before... as CRUS has major dependency on Apple ,this act cuts confident of shareholders and helps shorties.... HE KNEW WHAT WOULD HAPPENED as his sale became public a second after the release. Will need some insiders buys to instill confidence within investors about the longevity of the Apple relations.... But Mr. Rhodes has his money already out like a thief in the night...

    • He had pre planned that sale on May 15 -- just look at the sec report.
      Had nothing to do with reporting earnings late due to stock market being closed for two days due to super storm Sandy.

      Standard practice for executives to pre-plan exercise of stock options after earnings report.
      Options were vested on oct 1st --- can not sell during a quiet period before earnings are annpumced.

    • who paid $40 on Nov 2nd?? Whoever it was isn't the brightest

      • 1 Reply to johnfusaro44
      • The thief sold on Oct 31 , just reported a day later .... this act took out some investors' confidence and supported the shorts' attack the next 2 days... they probably had a source inside telling them about the sale immediately..... crooks take care of themselves, not the shareholders. First time I witnessed a CEO selling shares a minute after announcing earnings.... hit and run. Earlier this year he pumped the stock price with "Positive Pre announcement" ...pushed it to $44 and sold more than 50000 shares. With no shame he has this item on IR : "right to the CEO" ... what a #$%$ ! I suggest shareholders really write to him.....

    • as the stock is down to $32 one day later - and don't forget he brought the company up from nowhere to a billion dollar revenue company with an accompanying giant rise in the stock price. And he only sold 50,000 but still owning a lot more - so what are you complaining about exactly ?

      Just another wimp trying to put the blame on everyone else but himself.

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