RE: RE: RE: RE: RE: chickened out Officers/directors receive options from company, they have expiry dates, this allows them to convert/excercise those options at a set price if they so choose. The price is set at time of issue. This price is always much higher than market price at the time of issuance. When the holder excercises their options they pay the company directly/immediately and those options get converted to common stock, they are then free to do as they wish with that stock.
These particular options were coming due and that would mean that the holder either excercise them or loose them. The options were in the money so it would make sense to excercise them otherwise they would have left money on the table and who in their right mind would do that. If you search sedi.ca you will see that most other officers excercised their options on the same day.
A week or so later the company granted new options to its officers/directors at a price of $6.01 these new options will be valid for 4 years expiring 2016-7-28. the holders of these new options are free to excercise them at any time within the 4 years at the set price.
This particular officer (secretary) chose to sell all his shares and take his profit. Perhaps he receives a minimal salary for his services, perhaps he bought a new house who knows we all have our reasons for taking profits. The important thing is that the officers/directors (ceo, cfo,chairman etc) that count have not been selling.
ATB