Canadian InsiderIs one of many useful tools when trying to figure out what is going on.
Conversion from restricted to common shares is fine during a time when it is believed that negotiations may be going on (or any other time) because it is only a change in the status of the gifted shares that you own...but cashing out? The size and whether it was legal or not is irrelevant. Given his position and the press release that was made 5 day's earlier, he should have been sitting on his hands no matter what his personal knowledge was of the closed door state of affairs at that moment in time.
I am only throwing this out there because it is already in the public domain. Make of it what you will.
| Feb 17/15 | Feb 15/15 | Carter, Gary Edward | Direct Ownership | Restricted Share Units | 59 - Exercise for cash | -41,093 |