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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)
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To: Icebrg who wrote (1383)2/5/2003 1:03:10 PM
From: tuck  Read Replies (1) of 3044
 
">>Vaughn exercises and sells, not exactly confidence inspiring for going long:>>

That was discussed during the CC already. I felt it sounded convincing, although I have forgotten why. The options were evidently 10-year old ( i.e. early Cor), that were about to pass their best-before date."

That's shown in the filing and explains the reason for exercise. What would be the reason for selling at these prices? The difference between the the exercise price and the current stock price was pretty miniscule, around a buck on average. I might buy a tax related reason, but I sure hope it wasn't "diversification" of his assets.

Cheers, Tuck
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