Actually the article said he would sell up to 375k shares... While I get that you are not happy with Sugarman's running of the company my perspective is that the preferreds always paid and he has brought it back from a bad brink that others went over. Just look at mpg...
Hmm, I don't think I said or inferred anywhere in my statement that I am not happy with Sugarman's running of the company. Really odd comment to make as I actually think he has done a spectacular job. It was more or less just pointing out that he did it and that I thought it was basically a non-issue. I own a bunch of the common and preferred and usually add on the dips.
if you look at the form 4, including his restricted stock, he is right up at the limit of what he can hold. This might have been necessary to keep him below the limit - i forget if the limit is 9.9 or 10 percent.
Sugarman is responsible, at least in part, for sinking the company, and he comes out of the mess with a much larger percent of the company than before the mess.