Recent insider salesA friend of mine pointed out to me yesterday that SMF seems to have a rash of insider sales in the last two months. In particular he pointed out to the fact that CFO Martin Milette sold all his remaining 75,000 for $13.53 on 12/03/2010. If he pick up no new shares or options, that means he owns nothing in SMF!
Altogether in the past year, the senior officers as a group, sold almost $3.9 million of shares, and on top of that the CFO sold $1.8 million of shares - most of which in the last two months of 2010. I checked the company's news release and the CFO has not been reported as having left the company, or going to leave the company. Rather unusal isn't it?
Benoit Laselle - the CEO - sold nothing! (That's the only good news)
Maybe that's just a case of the senior officers wanting to lock in their gains as SP started to fall after 12/07, or am I reading too much into the recent insider sellings?