Looks like a bunch of directors and the CFO exercised their options rights. the largest being the CFO taking home almost $3 Million.
I am not happy to see this happening especially from the CFO but I do understand that she needs to get paid too and much of her comp for the last few years has been shares.
There isn't any doubt that the CFO selling out his shares is BAD. The directors selling as well is WORSE. I have been long CLDX but today that will probably change unless the stock flies up in the opening moments. GLTA.
facts, I did the same and may dump all my shares and just take my profit for the year. And come back at a later date. Something is just not right when you see that much selling……disappointed as well. Good luck to you and glad you listened and bought XOMA. I am loading up on more XOMA today. And I always questioned why Baker Broth have not touched CLDX. Time will tell if they are right or wrong.
Explanation of Responses:
1. The option vested in four equal annual installments on March 7, 2009, March 7, 2010, March 7, 2011 and March 7,2012.
2. The option vested in four annual installments. 33,580 shares on March 7, 2009 and 33,579 shares on March 7, 2010, March 7, 2011 and March 7, 2012.
heres Chip Catlins options and its clear that $8 options at a strike of ~$25 was indeed what he did...
..so who in their RIGHT MIND when that window opened would NOT do the same...for Gods sake Man these people are Human and have personal needs too..thats $17 PROFIT per share....and he owns thousands of shares as a VESTING OPTION!
Notice its a SEC established Corporate WINDOW....if he had it his way when we hit $38 Im sure thats when he really wanted to SELL!
I would have done the same!
GET A LIFE all you MORONS who are short CLDX!
Sentiment: Strong Buy
Fraz, the fact that he sold over 90% of his holdings is what is disturbing. Yes, there are rules established by the SEC as to when insiders can sell shares. He could not sell at $38 because of both upcoming presentations being made by the company, as well as the impending secondary news.
Once the secondary was announced, that gave the CFO the opportunity to sell the shares before options expiration but at the $24.50 secondary offering price.
BTW, one can still be invested in CLDX and be objective at the same time. I can promise you I am not short CLDX and I am a long way from being a MORON!
The fact remains that the CFO reduced his holdings in CLDX significantly. You view it as a non-event. I do not view it as a non-event but it has not caused me to reduce my holdings...yet.
One way of determining the worth and strength of a biotech is by attending or reviewing their data reports. They had one on Nov. 7th on CDX-1127 showing meaningful, positive results with that drug -- all systems go -- and another one on Nov. 25th on Rindo showing meaningful positive trends in direction of increasing significance given how that compound works in the immune system over time; again, all systems go. Meanwhile, if one is bored by the tedious, adult process of enduring the sometimes lengthy and detail-attentive scientific method one can enjoy the intrigue of "what does the executive's financial life mean for us", and shop for secret decoder rings and "invisible ink" pens (can sometimes be found at the bottom of frosty, fruity, sugar coated, super-doodle kids' cereal boxes. Personally, I like to indulge my "inner child" on the CLDX boards by comparing the posters to various Lord of the Rings Characters. So far, I have long_vrts as the wise wizard Gandalf, and of course mabio is Gollum always checking in his pockets for his "precious" :D
Sentiment: Strong Buy
Catlin still owns over 238,000 shares. He didn't cash out.
Come on, just like an investor, when you have some gains it is wise and reasonable to take some off the table, especially as you near retirement.
I don't begrudge Catlin one bit for realizing some of the fruit of his labor and reward for his tenure. He's 65 years old, probably getting ready to retire. I'm sure he's got plans for the money he just raised, perhaps like purchasing a retirement home for cash before prices rise any more.
He's still heavily invested in CLDX, and the sale of a minor portion of his holdings does not in any way portend negative things for the future of the company.
Do you honestly expect senior executives, especially older ones, NEVER to sell stock EVER? That's an absurd expectation. Do you think it's ALWAYS a bad sign if even one share of stock is sold by an insider? That's stupid. Incentive stock options are deferred compensation. Caitlin is taking a small portion of his, and that's perfectly fine.
Buzz off, shorts.
Sentiment: Strong Buy
A) apologize on gender mix-up.
B) not short
C) According to latest filing alert today he no longer owns that many shares.
D) not short. Just trying to keep up with the news and create a dialog.
What it does say is that there was a window in which they were able to sell stock. If there were ANY material information on the horizon, they would not have been able to sell a single share. Short of a preemptive strike from big pharma, CLDX is dead money for the foreseeable future.
Having an OBJECTIVE viewpoint does not always make one short! So buzz off back at you! Oops, sorry whip, don't go postal on us. I haven't recovered from your last right wing fringe lunatic tirade.
So any longs feel good about insiders selling at these levels? Any comments? It does not show confidence of share price appreciation in the short term or long term. Sold my trading shares and glad I did, And now I am going to have to make a big decision to sell the rest of my cldx share tomorrow. I just do not like whats happening between insiders selling and the secondary…. is not bolding well. You pumpers can pump, I am here to make money and preserve what I HAVE.
NONSENSE! It is neither positive nor negative sign. It is simply profit taking (ipso facto, the equivalent of salary compensation), please give us a break. What Cougar is saying here would be directly comparable to saying, "Oops, them people go paid, how dare they?" Or perchance are you an elitist and hifalutin snob of a cut of a different ilk and therefore believe that they should work for pennies until you say otherwise or perhaps upon FDA approval? Yes, it would certainly seem to be the case now according to your transparent idiocy! LOL
Only thing positive is that it was not EVERYONE. The major holders did not sell, leads me to believe they are holding on more as an investment while CFO is selling as a paycheck. I don't think she is long tenured, so I can see why taking $3M off the table now might feel smart to be conservative.
But definitely something I will be watching for in the future.