Robert Hoffman. Got thedimes email from Fidelity.
Sentiment: Strong Buy
What baffles me is that he had till September 15, 2021 to exercise these warrants. Why the exercise so early, unless he needed the money for some personal reason or another.
Option Award : 2011-09-15
Expiration Date: 2021-09-15
ARENA PHARMACEUTICALS INC ARNA
(VP, Finance and CFO)
200,000 Warrant Shares
Exercise Price $1.48
Well, eventually he had to exercise them. What gets me is that it's likely the PPS will hit 10 by December as we draw closer to Belviq's debut. Robert Hoffman couldn't wait 2 more months?
if these had an options expiry date on them he'd be a fool not to exercise 50K worth @ $8.32/s at a cost of 1.48/s = 6.84/s profit. I'd do they same.
Why would you have a strong buy if this guy just sold 50,000 shares?
he sold 10,000 july 5th at $11 even.
50k in ($1.48), 50k out ($8.32) today, Oct 2.
Ah, the joys of being a CFO