RE:RE:RE:RE:RE:RE:RE:RE:RE:Need to clarify & very clearIntho,
Perhaps you can refer me to the documentation in support of your claim.
There are very reasons for which a "blackout period" would negate an insider's ability to exercise options. If you know of one for ONC then please share.
Also, the reporting of "expiration of options" is a routine excercise that is not affected by a blackout.
Again, if you can direct me to ONC's documentation that might suggest otherwise I am pleased to have a look.
It is very interesting that MC has let the mandated 5 days elapse since early December, without having reported the options as either exercised or expired.
It is possible he is in non-compliance at with SEDI reporting requirements.
That would be just another item to add to the list of concerns with MC.
I suggest you look at SEDI and specifically the 67 cases in which insiders of ONC have reported expriation of options. I can find one instance in 2010 when Douglas Ball reported the expiration one month late. In all other cases (less a few where info appears to be missing) the insiders were very diligent about reporting within 5 days of expiry. It appears to be a big deal and quite important in legal terms.
The "blackout" defense for MC is suspect for two reasons:
1. There is absolutely no evidence or reason to suspect that ONC has been in a blackout period since the first week of December. In fact, that claim is absurd.
2. It is highly unlikely that a blackout period would interfere with SEDI's legal requirement to report the status of MC's 175,000 options.
I know I've given MC a lot of flak for letting his optiions expire. I'll be the first to admit I'm wrong if anyone can provide any evidence to the contrary.