InsiderScore

The world's leading insider tranding, buyback, ATM, institutional ownership, and management change analytics and research service. Now part of Verity.

[InsiderScore @InsiderScore]

We launched our new podcast today. In Episode 1, we examine insider buying/selling (did insiders call a market bottom in 2022); talk to our resident buyback expert; and, look at a CEO's unusual stock award months before the company end up being sold.

[InsiderScore @InsiderScore]

@SullyCNBC Sad that our early mornings won't include Brian but excited to kick back with a glass of something nice with him in the evening starting March 8!

[InsiderScore @InsiderScore]

@Temple_West @SeattleKraken No, we don't do crypto names in this town.

[InsiderScore @InsiderScore]

$NOW said he sold stock to finance a real estate transaction.

Our take (as told to MarketWatch): He views real estate as a better investment than his company's own stock.

#insidertrading #insiders

[MarketWatch @MarketWatch]

ServiceNow CEO’s $25 million stock sale called ‘opportunistic’ as shares slide https://t.co/Dhwddpp2FH

[InsiderScore @InsiderScore]

VerityData's (our new name!) research and analysis was the basis for this story examining how insider selling behavior can be a tip off ahead of M&A announcements. You'd be surprised by what you can learn from insiders NOT selling. $HZNP $AMGN $KR $ACI $HPE $NTNX

[The Wall Street Journal @WSJ]

A pause in share sales by company insiders can be a clue for investors hoping to bet on a potential deal taking place https://t.co/ma7J0x5MZZ

[InsiderScore @InsiderScore]

@sprucepointcap A reminder that holdings disclosed in the standard ownership table in proxies include exercisable and imminently exercisable options. Form 4s only typically disclose options if the transaction being reported (grant or exercise) involves those particular options.

[InsiderScore @InsiderScore]

Form 4s will typically only include options-related information if the filing is disclosing an options-related transactions. Even then, the filing will typically only include information related to that specific tranche of options -- not all options.

[InsiderScore @InsiderScore]

Insider disclosures are nuanced and this is an example of someone getting it wrong. Proxy ownership disclosures are different than Form 4 disclosures. Proxies include exercisable options so investors understand potential voting power. Form 4s are transaction-oriented disclosures.

[Spruce Point Capital @sprucepointcap]

Dear @SECGov @GaryGensler you guys slapped $SMCI before for its reporting practices and demanded the CEO return money from stock sales. What's with this non-transparent sell of 500,000 shares from CEO Liang recently?

[InsiderScore @InsiderScore]

@sprucepointcap @SECGov @GaryGensler In other words, the Form 4 in question is not supposed to include CEO Liang's option holdings. As it stands, he has 231,260 options at $20.70 expiring on January 21, so the clock is ticking on those.

[InsiderScore @InsiderScore]

@sprucepointcap @SECGov @GaryGensler This is a faulty assumption. Proxy ownership table disclosures include exercisable/imminently exercisable options so investors understand voting power at annual meeting. Form 4s typically don't include option disclosures unless the filings are related to option transactions.

[InsiderScore @InsiderScore]

@WR4NYGov Baglino can cancel his 10b5-1 plan anytime he wants. His current plan was adopted in November 2021.

Also note that Kirkhorn's acquisition of 13,350 shares via an option exercise followed sales of 15,001 shares from September 12 to December 5.

[InsiderScore @InsiderScore]

@Ryan__Rigg @Xx_WiReD_xX @CEOAdam This was a restricted stock vesting. As @Ryan__Rigg notes, the F-code denotes shares withheld to cover the tax liability on the vesting. These were non-discretionary, non-cash transactions. Aron didn't actually do anything here except collect stock.

[InsiderScore @InsiderScore]

@AnadarkoCapital It's important to understand the behavior and context behind the data when it comes to insider trading disclosures. There's often way more going on than what's on a Form 4 or presented on a financial data platform. Knowing what to look for saves times, helps decision-making.

[InsiderScore @InsiderScore]

@AnadarkoCapital These executives have monthly restricted vestings on the 1st day of the month and quarterly vestings on the 15th of the third month of the quarter. In conjunction with all these vestings are sales required by the company's RSU policy to cover taxes.

[InsiderScore @InsiderScore]

@MilMileBattery @ShengwenRong That's not how it works. The options vest in 60 monthly installments beginning November 1, 2018 and ending October 1, 2023. He has 5,415 options left he hasn't exercised, some of which become exercisable on the 1st of each month through October.

[InsiderScore @InsiderScore]

@CuttillEric The filing reports a restricted stock vesting and associated tax withholding. This was a non-discretionary, non-cash transaction. It was, however, disclosed a month late.

[InsiderScore @InsiderScore]

@sspencer_smb He sold a total of 15K shares from September 12 to December 5 so this exercise of 13.5K shares almost replaces the shares that he recently sold.

[InsiderScore @InsiderScore]

11/4/21: Shares of $TSLA hit split-adjusted all-time high of $414.50.

11/5/21: Director Kimbal Musk sells $108.8 million in TSLA shares at split-adjusted $409.69.

11/6/21: Elon Musk's ("should I sell 10% of my Tesla stock?") Twitter poll.

#JustSaying

[InsiderScore @InsiderScore]

@GerberKawasaki Amazing that Kimbal hasn't gotten the other board members together to address this issue.