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Biotech / Medical : TITAN PHARMACEUTICAL (TTP)
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To: Icebrg who wrote (322)11/8/2005 1:35:35 PM
From: Icebrg  Read Replies (1) of 362
 
The next insider to buy is Sunil Bhonsle, EVP and COO.

But the numbers are not very big, or rather not big at all. He took 9.900 shares from the market @ 1,52. After this transaction he directly owns 90,294 shares and another 100.000 shares are held by a family trust.

sec.gov

Executive Vice President and Chief Operating Officer Sunil Bhonsle has served as our Executive Vice President and Chief Operating Officer since September 1995, and has served as a director of Titan since February 2004. Mr. Bhonsle served in various positions, including Vice President and General Manager-Plasma Supply and Manager-Inventory and Technical Planning, at Bayer Corporation from July 1975 until April 1995. Mr. Bhonsle holds an M.B.A. from the University of California at Berkeley and a B.Tech. in chemical engineering from the Indian Institute of Technology.

This really doesn't make much sense. What is the purpose of buying 9.300 shares if he already controls 180.000? And...

His salary over the last couple of years has been around 260-270 kUSD, so even if the stock becomes a 10-bagger from here, he will only make an amount equal to around a third of his salary.

He holds around 680.000 options of which very few if any (my guess) are in the money at present.

Erik
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