On April 1, the Reporting Person Mr. Higgins exercised 600,000 stock options. On April 2, the Reporting Person Mr. Higgins exercised 400,000 stock options.
While the form 4 appears incorrect, I believe he paid $3.50 per share A $3.5 MILLION investment. And the options were set to expire on 5/1 I believe.
His form 4 shows prices of $3.76 & 3.77 but Im not sure where they came from. Those were market prices and he paid just 26-27 cents below market.
Still pretty darn bullish for a million shares.
I dont know how bullish it is.. the stock is worth $4 per share in cash so he decided to exercise his options and buy it at $3.50
Would it have been more bullish if he let them expire ?
He wouldnt have spent $3.5 million on shares if he expected to burn through the cash.
Particularly when his past insider buys were at much lower prices.