KLONDEX MINES LTD. T.KDX

Insiders

[CaptainConn]

I noticed management has been converting restricted shares to common shares but then selling off a portion of those. For example, Huet converted 13334 shares to common shares and then sold 5281 of those. Seaberg converted 9000 but sold 2879. Not sure what to make of it as it could be part of the terms that they can only keep a limited amount ? Or they are selling because numbers are ugly? Thoughts?

[Cashcosts]

These filings can be tricky to read unless they are outright open market market buys or sells.  If memory serves me correctly, i asked John awhile back about this and he said they aren't selling even if on the surface it looks like it in the filings.  Either it is to pay the tax on the restricted stock or there is something else going on that I really don't understand but I don

[CaptainConn]

I was doing some reading on restricted units earlier. Was going to post an update but you beat me to it. That's exactly how they work: you are required to sell a portion of the common shares that are converted from restricted shares for tax purposes as the value of the common shares is essentially considered income. So in essence, they are converting at these prices = buying. Which is

[Cashcosts]

It actually says this in Seaberg's most recent filing.  His RSUs vested and were converted at a price of 3.18. 2. Represents the number of shares withheld to cover the tax liability on the vesting of the RSU grant reported in Table II.