RE:fire:ct ownershipok. finally someone picked up on this.
Here's my understanding on this very vague and some would say non-existant rule (at lesat in Canada). I am not the authority on this so I reserve my right to be corrected.
You are mixing up the requirement to disclose material information and the rule against insider trading. Two are related but different. As long as material information is being disclosed the SEC/OSC does not imposes a blackout period or any such restrictions. Companies do it voluntarily to prevent "accidental" insider trading. Insider trading is just when someone uses non-public info to profit. There is a point when information is not yet material but would still be sufficent to be considered insider trading if acted upon. This is very dense stuff...especially when it comes to unidentified investors and hostile takeovers...etc.
So, If we see insiders buying then it's good. If not, I remain cautiously optimistic that perhaps a deal is immenient. I also notice they don't have a huge employee stock option plan. Something for management to think about going forward?