Biotech Values

[DewDiligence]

I always thought 105b [plans], once set up, are regular like clockwork.

10b5-1 selling is rules-based, but that doesn't necessarily mean that the transactions occur at equally spaced intervals. For instance, a plan that calls for a sale on a specified day of each month might have a gap if the share price in a given month falls below the plan's threshold for selling. Other cause of irregularity in the timing of 10b5-1 sales are the vesting of restricted shares and the expiration of in-the-money stock options.