could it be a senior marketing person? I think that another executive sold two to three million shares in the past few weeks.I sure hope the stock price continues to be strong. Does anyone have anything to add?
It's their option. Selling drives the stock down. With negative comps even with breakfast is not a good sign. You might see sonic below $20 if all the selling takes place. I heard that another senior management is leaving.Can anyone confirm that?
The execise of 45,000 "purchase" options means she actually bought 45,000 shares (at a very good price). Options to buy expire in 10 years, so they must be exercised periodically. It is not unusual for some or all of the shares to then be sold to finance the purchase. So far she has sold about 21,000, which means that she increased her share holdings by 24,000, net.