SurModics Inc (SRDX)

[Democritus_of_Abdera]

I agree... it is a good sign that Dale has not immediately sold the exercised options... although, I would consider it prudent if he sold some to cover tax obligations.

When Dale exercised the options, did the shares come out of the SRDX treasury or the open market?

If from the treasury does the outstanding share count increase and cause a de facto dilution?

If the outstanding share count increases, does SRDX offset the increase with an open market purchase?

Could the recent buyback authorization represent positioning for anticipated option exercises?

Note: although the above sequence looks like a Socratic series of questions, I, in fact, do not know the answers and would welcome an education.