wade's options Wade sold 2.1 million shares at $1.42 (therefore $2.982 million), then turned around and acquired 13.95 million shares for $4.67625 million (see the options below). He therefore holds 11.85 million shares that are paying out a $.30 dividend in the next year (or $3.555 million per year in dividends…yikes!)
Wade increased his ownership by exercising options which he is now blasting off into the market - with all of the other insiders. Alarm bells should be going off.
Wade Cherwayko: increase ownership by 11.85M shares...
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction # or value acquired or disposed of Unit
Price
Jul 19/12 Jul 18/12 Armstrong, Derrick Robert Indirect Ownership Common Shares 10 - Disposition in the public market -2,583 $1.47
Jul 20/12 Jul 17/12 Cherwayko, Wade George Direct Ownership Common Shares 10 - Disposition in the public market -2,100,000 $1.42
Jul 20/12 Jul 17/12 Wolbaum, Leroy Direct Ownership Common Shares 10 - Disposition in the public market -1,000,000 $1.42
Jul 19/12 Jul 17/12 Tapuska, Edward William Direct Ownership Common Shares 10 - Disposition in the public market -135,000 $1.42
Jul 19/12 Jul 17/12 Crilly, Paul Alexander Direct Ownership Common Shares 10 - Disposition in the public market -675,000 $1.42
Jul 19/12 Jul 17/12 Armstrong, Derrick Robert Direct Ownership Common Shares 10 - Disposition in the public market -625,000 $1.42
Jul 18/12 Jul 17/12 Droppo, Dallas Direct Ownership Common Shares 10 - Disposition in the public market -1,125,000 $1.42
Jul 20/12 Jul 16/12 Cherwayko, Wade George Direct Ownership Common Shares 51 - Exercise of options 7,275,000
.340
Jul 20/12 Jul 16/12 Cherwayko, Wade George Direct Ownership Options 51 - Exercise of options 2,225,000
.650
Jul 20/12 Jul 16/12 Cherwayko, Wade George Direct Ownership Options 51 - Exercise of options 4,450,000
.170