RE: RE: RE: Insider sells (Zammit)Actually SIRCOOP, the news release you quoted simply indicates that Ithaca granted its directors and officers options to purchase shares of the company in the future at a strike price of $2.25. As noted in the news release, 1/3 of the options vest at the end of 1, 2 and 3 years from the grant date (Dec 17, 2010), meaning that none of these options are exercisable yet. When a company grants options to its staff, it does not cost the staff anything. It is simply used as a long term incentive to align the interests of the staff with the company's shareholders.
Having said that, I do agree with you that the sale of shares by Zammit is nothing to worry about. Everyone has their reasons for selling, and the fact that he still holds a substantial number of shares indicates to me that he does not believe that future prospects of Ithaca is at risk. I'm not worried and this doesn't change my opinion of the company's potential.