RE:RE:RE:RE:RE:BankruptThen explain why No INSIDER has purchased shares if they thought that the company was viable. Ya... didn't think you could. These guys make 100X in salary what the average person who posts on this bullboard makes. There are no excuses for not buying even if you continue to make excuses for them blowing out of shares.
What an outfit this is. Even the thought that these insiders were gifted restricted share units in the first place given this company's performance is deplorable. What a bunch of pigs that don't care about shareholder value one single bit.
Lumberfeverlong wrote: I will do more research on the company's rsu plan tomorrow. One thing I know for sure is that when RSUs vest, the market value is considered income meaning tax is payable on that that value. Exercising for cash is the smart thing to do to ensure the beneficiary has enough cash to pay taxes on the deemed income. That is why many plans simply pay out on vesting rather than leaving it up to the recipient of RSUs.
NOIRISH wrote: And for the record, I do receive RSUs as well as options under a plan and although obviously not Concordia, I am not forced to cash either when they vest. So take what Lumber has said with a grain of salt when he says that they were forced to cash them on November 22nd, which coincidentally was the dae that the Bondholders said they lawyered up to force the company into Chapter 11 restructuring before they blow out of the cash they just received from the secured notes.
NOIRISH wrote: I know how RSU's work and they did not have to exercise them for cash on the vesting date. They could have held on them, no company forces you to cash out your RSU's upon vesting - as that has tax implications to employees and defeats the purpose if you have to cash them as soon as they vest. You can't exercise them for cash UNTIL THEY VEST, but there is nothing in the management circular issued at the last AGM that details that says you have to cash them on the vesting date (which is 6 months to a three year period after they were awarded). I agree with the poster who said that this is a bearish sign. And I also agree with previous posters who say that you can BELIEVE NOTHING that comes out of this managmenet including the money thay "say" they have. (Not that they are saying anything now, probably on advice of their legal counsel.)
No position. One held, but thankfully exited months ago when the CEO and Kupinsky started shuffling their shares to other business entities off shore.
Lumberfeverlong wrote: Do you even know how RSUs work? Upon vesting, which is dependent on time elapsing and sometimes performance metrics being met, the RSUs are paid out on the basis of the share price at the time of vesting or during a short period before vesting date. All of these insiders were paid out under the plan. It is not the bearish sign you are claiming to make it.
Shortingtozero2 wrote: All Insiders cashed their vested RSU's 2016-Nov-22 at CAD $4.3460
The same day that the Bondholders got Akin Gump to represent them.
This is Pure Gold. Equity is Zero.