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Biotech / Medical : Kosan BioSciences -- KOSN
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To: scaram(o)uche who wrote (294)6/24/2003 11:54:11 AM
From: keokalani'nui  Read Replies (1) of 933
 
Maybe Peter can help if I'm way off here. I think a Form 144 is designed to allow open market sales according to a period-specific plan of regular sales even if the filer learns of material undisclosed information during the period. (The filer can, however, suspend sales at any time, requiring an eventual amendment.)

It could also be used for a transfer to a trust I suppose, but that amount of shares would likely only be headed for an intervivos trust and a single conveyance via Form 4 would make much more sense. Followed by a F144 by the trustee if public market sale was the goal.

So I think it is bothersome. IMO Dr. Johnson is a central, independent executive at kosn.
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