Funny I always thought an exercise of a stock option meant acquiring shares, not selling shares. I'm not disputing the amount, I'm disputing the fact that people are saying he sold 50 million worth of stock. That's not the case. The stock was at a good price when he exercised (bought) shares. Hence the 47 million.
It's no secret that the CEO has a lot of exercisable and even more unexercisable options. I read the proxies. But they're all worthless unless he gets this thing turned around. He's motivated to get this thing back to the 20's again.
The 47 million just says stock gains. That doesn't necessarily mean he sold. If he sold that much stock it would have been filed with the SEC. That number is unrealized gains. And if that's the case his compensation this year will be negative...
I agree, management must go. Doug's leaving was a sign. Ron's taking out $50+ million was a sign. His investing mere $100's of thousands of dollars is NOTHING compared to what he took out a year ago - and what he made this year. Metris paid more to fly his wife around than he invested in his company's stock recently.
I really don't understand why everyone is so critical of Victor and Lava... It seems to me that they are just telling it like it is. It is all well and good that you all want to see data and facts - but the fact is that you can't trust these guys or their data. So it is irrelevant.