Birchcliff Energy Ltd T.BIR

BIR execs letting me down

[PlutusofCrete]

Exec team exercised options and dumped shares on the market - thanks for not showing confidence in the stock. 

I would paste the data but it's too depressing...you can go look for it.

[MikeySwoosh]

Astute move to exercise options and crystalize hundreds of thousands of dollars in gains on a stock that they recognize is overvalued in today's market. Depressing to see though, for sure. Quite a shame they don't manage the business quite as astutely given the current backdrop. Way too high a dividend and an unwillingness to hedge is not good stewardship of shareholder capital. Nothing

[barneyj44]

Exercising of options happens all the time. I'm holding my core position for the time being. Sold a little during the last push and added to my Baytex shares. Short term figure that stock has been oversold as well. Want to stay in the game with NG as Kitimat is getting closer and closer. Buyout still very much a possibility. 

[mrmomo]

barneyj44 wrote: "Buyout still very much a possibility. " You're in dreamland and full of hopium, like many on here IF you really believe THAT. ANY hope of some buyout or merger possibility was completely dashed & thrown out the window with January's operational update and that bat*hit BNN interview that followed. I mean seriously, just look at the 10.30 mark of this BNN

[Donhow]

If they had sold enough to cover I would be more confident. Selling every option means they have no confidence in the company. Zero. Also the fact that ALL the execs think the share price is going to the 3 range is not comforting. Or maybe they just do what's best for them at the expense of the other shareholders. It's a lot different when an insider sells as far as influences are

[itsalie]

are you short? better cover.. 

[Willikins]

If you look at the Bir circular options expired in Feb 2023 so they had to be sold 

[PlutusofCrete]

I appreciate you looking this up, however, the expiration date only impacts the time left to exercise the options.  They do not need to sell all of the exercised options as they did. At this point the optics are bad - the SP has been destroyed and the CEO is telling us the better days are ahead - if so, show some faith and stand with the shareholders. I especially did not expect Jeff Tonken

[Donhow]

The options had to be exercised, but they didn't have to dump the shares they received on the market. They could have sold enough shares to pay the option price and kept the rest as an investment if they believe n the company. They obviously have better places for their investment. Don't forget that they also are paid salary so shouldn't need the reduced tax income to live on.