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Message: Insider sales and integrity

Insider sales and integrity

posted on Apr 23, 2010 11:14PM

There has been a lot of talk on the boards about all the insider selling this past month. I don't know if it had anything to do with tax season, but the volume of sales would suggest to me that it could not have all been for that reson. I have to admit that it did cause me some concern.

Now, in hindsight, I have to give a nod of respect for the integrity demonstrated by management and insiders who went ahead with their sales when they most likely knew that an announcement of this magnitude was coming. Long term, I'm sure they are going to make out like bandits (as I hope we all will), but these guys must have taken something like a 20% hit when compared to where the shares would be after the holding period is over after this annoucement. That demonstrated tremendous confidence that their re-filled options are going to be worth a lot more in the future.

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