What a laugh I got when I read the first paragraph on this PR for Medbox.
Medbox Comments on Recently Adopted Equity Incentive Program for its Board Members, Employees and Consultants
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11:53 AM ET 9/23/14 | PR Newswire
Medbox, Inc. (OTCQB: MDBX) (www.medbox.com), the leading dispensary infrastructure and licensing specialist, patented technology provider, and partner to the cannabis industry, commented on recent selling activity which resulted from the grants of stock and restricted stock units through the Company's recently adopted equity incentive program and the programmed sales by the Company's independent directors and the Company's founders. As recently appointed independent directors, Ambassador Ned L. Siegel and Mr. Mitch Lowe each was granted Medbox common stock through the Company's Equity Incentive Plan that was registered under Form S-8 and an attached prospectus as part of their incentive compensation package. For tax planning purposes, each director set up a trading plan under Rule 10b5-1 that allows them to sell a predetermined number of shares at a predetermined time. In addition, both of the Company's founders also set up trading plans under Rule 10b5-1 in order to meet their respective tax planning objectives.
Mr. Mitch Lowe, co-founder of Netflix and former President of Redbox, commented, "Rule10b5-1 plans are used by many corporate executives for tax planning purposes. As a Medbox board member I remain committed to Medbox's growth and excited about the Company's prospects."
Ambassador Ned L. Siegel stated, "Medbox is building what I believe is the most professionally managed and best governed public company in the cannabis sector, and I am as excited about the positioning and future of the Company as I was when I first joined the Medbox Board of Directors in April of this year."
Medbox Founder and Senior Strategist, Vincent Mehdizadeh, commented, "It has always been Medbox's goal to give superior transparency to the investment community which is why Bruce and I decided long ago that Medbox was destined to be a fully reporting SEC filer. In doing so, we subject ourselves to the burdens and benefits of the reporting requirements. Communication to the investment community is what sets the good companies apart. My 10b5-1 program is set at 500 shares per day and is meant to support my tax liabilities on a going forward basis. Bruce and I remain committed to helping this Company exceed the expectations of our clients and shareholders."
