I didn't see anyone post anything about the Directors acquiring shares.
It was filed on my ameritrade sec filings. It shows each director acquiring 850,237 shares each.
Was this part of them being approved by the shareholder vote?
I didn't see anyone post anything about the Directors acquiring shares.
It was filed on my ameritrade sec filings. It shows each director acquiring 850,237 shares each.
Was this part of them being approved by the shareholder vote?
Those shares were not acquired... they were awarded. It's part of the directors' compensation.
Last edited by Siriusowner; 01-05-2009 at 11:09 PM.
Directors who are not employed by the company get compensated for their service in the amount of $120,000 between cash and shares. It looks like their compensation this year was all in shares
Tyler Savery
Satellite Standard Founder
They were posted 12-23 on ameritrade. The transaction date was 12-18 which I thought was also the shareholder meeting date.
There was something about them blocked off in 4 chunks over the next 4 years like you said.
1) Options vest as follows: 212,560 - 12/18/2009; 212,559 - 12/18/2010; 212,559 - 12/18/2011 and 212,559 - 12/18/2012
At the stockholders meeting Mel said that a lot of the insider selling was done to pay the taxes on the shares that were given as bonuses or as part of a salary. I would expect this to happen again.