<so how come they can trade before then?>
For Bell and Keiser, and maybe the third, the sales were made through 10b-5 investment management accounts, about which there has been some discussion on either the BT thread or Rick's thread. The 10b-5 plans insulate the insider from being unable to sell during "quiet" periods and, in theory, because they might be deemed to be selling on the basis of knowledge of material, non-public information.
As to KOSN, true--it seems to be of a different order. But, is it so hard to see life from the perspective of an insider, with a wife, kids, insecurity bred of this secular world that is becoming, it seems, more uncertain by the year? If you could pocket $60K or $80K (Bell still has a ton of shares) after the recent trial didn't go quite your way--and maybe you really don't know how the FDA will receive the submission on your other candidate, how many of us can really say we would place the visceral, but still abstract, notion of shareholder sentiment ahead of our immediate lives and loves. With a Koslowski, a Lay, a Skilling, and maybe some of the exemplars of other BT horror stories I'm too green to know before mildly (and soon more intensely) following your sector--yes, string 'em from the rafters and let 'em hang--I'd be in the front row cheering. But a lot of these blokes, they're probably thanking their lucky stars to be where they are and don't want to be left holding the bag if the stars don't align themselves quite right.
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