co-CEO Henry Lin bought 98,050 ADRs at $6.40, co-CEO Omar Khan bought 51,937 ADRs at $6.67 and COO Vincent Shi bought 98,050 at $6.40. Very bullish!!!
NQ Mobile Announces Completion of Senior Management Share Purchase Plan
BEIJING and DALLAS, Dec. 6, 2012 /PRNewswire/ -- NQ Mobile Inc. ("NQ Mobile" or the "Company") (NYSE: NQ), a leading global provider of mobile Internet services, today announced that members of its senior management, including Co-CEOs Dr. Henry Lin and Mr. Omar Khan, and COO Mr. Vincent Shi, among others, have completed their previously announced share purchase plan to use their personal funds to purchase up to an aggregate of $2 million worth of the Company's American depositary shares ("ADSs") in open market transactions within six months from June 6, 2012.
As of December 6, 2012, NQ Mobile's senior management team has purchased a total of 303,819 ADSs on the open market with an aggregate price of approximately $2,026,421. Among them, Co-CEOs Dr. Henry Lin and Mr. Omar Khan, and COO Mr. Vincent Shi each purchased 98,050, 51,937 and 98,050 ADSs using approximately $627,117, $346,283, and $627,117, respectively. The Company notes that, due to NQ Mobile's status as a foreign private issuer, purchases of shares by its executive officers cannot be filed using Form 4 with the Securities and Exchange Commission ("SEC"). As such, the Company has provided the details of the purchases in the content of this press release. Any future sales by any executive officers of NQ Mobile are expected to be reported on Form 144 filed with the SEC.
Generous! Can someone look up & remind me the annual cash compensation of the Co-CEO Omar? I think he's already spent more cash in buying the stock ($346283) than he has been paid in cash salary this year (he joined company in Q1) ? Please correct me if I'm wrong.