SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Naxos Resources (NAXOF)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: kenneth w. calligar who wrote (13947)7/1/1998 11:04:00 PM
From: Henry Volquardsen  Read Replies (1) of 20681
 
Ken,
That wouldn't make sense. He wouldn't need to file to sell in order to purchase options. My understanding that, as Mark indicated, that when you have restricted stock purchased via a private place in order to remove the legend and make it free tradeable stock you need to file an intention to sell. Also I suspect the person who told you it was related to an exercise of options was thinking of the story we have always been told about insiders, on many stocks, that they are selling existing shares to generate cash to exercise the options. I've never trusted those stories and usually consider them a smokescreen. Anyway on the subject of Mr Sarroff's filing, I may be wrong about this but until he actually is elected to the board he is not an insider. Therefore I don't think he has to file when he sells. Unless he owns over 5% which I don't believe he does. Given this I think this was just a filing to remove the restiction on pp shares. Of course I am making a lot of assumptions here.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News