Context To Insiders sellingCome on Porksniffer, a little digging goes a long way!
If you look at the shares being sold, they are options that have been exercised which were facing expiry.
In 2006 and 2007, NML granted stock options at 0.75 (links below). The expiry dates for these issues were Sept 13, 2011 and Jan 31, 2012. The first of these dates is less than 2 months away and the second isn't far off either. These guys have been holding for 4-5 years and are now forced to exercise their options or lose them.
What is encouraging to me is that every single person who has exercised options has held a large portion of them (if not all of them). Dean Journeaux has chosen to buy out his options despite owning over 2,000,000 shares already. Granted, Jean-Charles Bourassa has sold 50,000 shares recently but that is from a holding of over 600,000.
Let's try to keep things in context. Not everyone has the money to buy out their stock options when forced to exercise them. Sometimes you are forced to sell a few to cover your strike price. That is what is happening with NML.
https://nmliron.com/pdfs/news/NR091306.pdf
https://nmliron.com/pdfs/news/NR0714.pdf
Here is the detailed insider information so you can decide for yourself. Sorry about the formatting but I'm not sure how else to paste the info.
Transaction Shares/ Account
Date Insider Name Ownership Type Nature of Transaction Security Price ($) Units Change* Account Balance
Jul 15/11 Bourassa, Jean-Charles Direct Ownership Public market sale Common Shares 2.350 -15,000 -13% 100,000
Jul 14/11 Nichols, Lee Clifford Gray Direct Ownership Exercise of options Common Shares 0.750 45,000 3% 1,673,209
Jul 14/11 Nichols, Lee Clifford Gray Direct Ownership Exercise of options Options 0.750 -45,000 -7% 625,000
Jul 14/11 Bourassa, Jean-Charles Direct Ownership Public market sale Common Shares 2.300 -5,000 -4% 115,000
Jul 13/11 Schindler, John Norman Direct Ownership Public market sale Common Shares 2.280 -25,000 -18% 112,405
Jul 13/11 Bourassa, Jean-Charles Direct Ownership Public market sale Common Shares 2.240 -5,000 -4% 120,000
Jul 12/11 Bourassa, Jean-Charles Direct Ownership Public market sale Common Shares 2.216 -25,000 -17% 125,000
Jul 11/11 Schindler, John Norman Direct Ownership Public market sale Common Shares 2.254 - 2.267 -25,000 -15% 137,405
Jul 07/11 Melainine, Moulaye Direct Ownership Public market sale Common Shares 2.371 -1,800 -1% 254,100
Jul 06/11 Journeaux, Howaith Dean Direct Ownership Private buy Options 0.750 168,500 8% 2,180,466
Jul 06/11 Melainine, Moulaye Direct Ownership Public market sale Common Shares 2.359 -200,800 -44% 255,900
Jul 05/11 Melainine, Moulaye Direct Ownership Exercise of options Common Shares 0.370 - 0.900 400,000 > 100% 456,700
Jul 05/11 Melainine, Moulaye Direct Ownership Exercise of options Options 0.370 - 0.900 -400,000 -52% 365,000
Jul 05/11 Cooper, Marvin Direct Ownership Public market sale Common Shares 2.370 -7,600 -7% 105,400
Jul 05/11 Cooper, Marvin Direct Ownership Public market buy Common Shares 2.450 45,000 66% 113,000
Jul 05/11 Cooper, Marvin Direct Ownership Exercise of options Options 0.750 -45,000 -9% 465,000
Jul 04/11 Journeaux, Howaith Dean Direct Ownership Exercise of options Options 0.750 -168,500 -8% 2,011,966
Jun 30/11 Martin, Robert Alexander Direct Ownership Exercise of options Common Shares 0.750 50,000 5% 1,036,895
Jun 30/11 Martin, Robert Alexander Direct Ownership Exercise of options Options 0.750 -50,000 -3% 1,620,000
May 31/11 Martin, Robert Alexander Direct Ownership Public market sale Common Shares 2.680 -12,600 -1% 986,895
May 30/11 Martin, Robert Alexander Direct Ownership Public market sale Common Shares 2.650 - 2.670 -12,313 -1% 999,495
May 30/11 Martin, Robert Alexander Direct Ownership Exercise of options Common Shares 0.750 25,000 3% 1,011,808
May 30/11 Martin, Robert Alexander Direct Ownership Exercise of options Options 0.750 -25,000 -1% 1,670,000
May 20/11 Martin, Robert Alexander Direct Ownership Exercise of options Common Shares 0.750 25,000 3% 986,808
May 20/11 Martin, Robert Alexander Direct Ownership Exercise of options Options 0.750 -25,000 -1% 1,695,000
May 16/11 Martin, Robert Alexander Direct Ownership Public market sale Common Shares 2.290 - 2.300 -13,000 -1% 961,808
May 16/11 Martin, Robert Alexander Direct Ownership Exercise of options Common Shares 0.750 25,000 3% 974,808
May 16/11 Martin, Robert Alexander Direct Ownership Exercise of options Options 0.750 -25,000 -1% 1,720,000
May 13/11 Schindler, John Norman Direct Ownership Exercise of options Common Shares 0.750 150,000 > 100% 162,405
May 13/11 Schindler, John Norman Direct Ownership Exercise of options Options 0.750 -150,000 -24% 470,000