Liquidmetal Technologies Inc (LQMT)

[Dell_Griffith]

It would be a Form 4, but he's no longer an insider. He no longer needs to file anything. His shares come from authorized. They don't hit the daily volume.

We'll probably never know if/when he exercises. He gets immediate vesting (instead of waiting 3+ years for them to vest) of probably close to 10 million or so options that he needs to hold for a year to get long-term capital gain tax treatment that he can start selling off just when his severance package and health insurance benefits expire and take a guess if he plans on selling into low volume or a low price. I don't think he's sitting home pining away about his early "termination." I feel like this was totally planned by him - one year contract, selling 400 mill shs to a guy from China who already is a leader, and giving up those 3 Board seats that he knew would seal his fate and/or certainly hurt his ability to get everyone to go the way he wanted the Board to vote. This is a great deal for Steipp, but he has to believe they'll be a large appreciation in price to sign off on it because he has to exercise/pay for all those options within 90 days of termination. I could have sworn he had some in the .20's, but might be wrong on that.

FWIW, I think we'll see a steadying increasing price and then something really special the closer we get to the Apple launch for the 10th Anniversary iPhone made of "glass." Just seems to make a lot of sense.