GREY:ROAOF - Post by User
Post by
beckalodeonon Sep 19, 2007 2:58pm
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This insider selling kinda bugs me
This insider selling kinda bugs meYeah, yeah, I know that insiders sell for a myriad of reasons, but this article caught my eye and is kinda getting on my nerves...
Oilexco directors Michael Cairns, David Marshall exercise options, sell shares
LONDON (Thomson Financial) - Oilexco Inc said vice president, corporate development & officer Michael Cairns and general manager Oilexco North Sea Ltd David Marshall have exercised options to acquire 100,000 shares each at 3.46 and 2.25 cad respectively and then sold them.
I have to assume that these two are very plugged into the company's progress and prospects, but they're exercising cheap options now, rather than waiting for bigger results. I would be a lot more comfortable if they'd exercised and held, or, better yet, simply bought in the open market (like the rest of us) on the expectation of becoming even richer. Instead, they sold into us - why?
Anyway, this insider selling kinda gives me pause.
- beck