27k shares sold the last minute of trading--about 18% of what was traded today. Volume is still pretty low to consider the drop today a "reaction"
Art sold on 3/28, 3/29 6883 shares at an avg of 39.25. Then sold again on 04/06 and 04/07 5397 shares at 43.57.
Stephen Carey sold on 3/28, 3/31 1460 shares at an avg of 39.25. Then sold again on 04/06 612 shares at 43.22.
Robert Schrepfer sold on 3/28, 3/31 1589 shares at an avg of 39.25. Then sold again on 04/06 and 04/07 1062 shares at 43.57.
James Marken sold on 04/06, 04/07 481 shares at an avg of 43.57
CT orders placed: 04/02, 04/02, 04/14
The sells are pretty minimal given what they retain. Coincidental their averages are all the exact same save Stephen Carey?
Someone may have gotten out last minute, but we've been down 3-5% on no news, so still not sure what to make of this. If the company was collapsing, why now? Why not last year or the years prior? Even shortly after merging the company--why not then? I suspect it may be a contingency to something bigger at play. Short interest is the lowest its ever been. A lot of institutions are holding this stock and it'll be interesting to see what they're holding after the dust settles a bit. I suspect a buyout is imminent.
GLTA
-RG
P.S.
Seven Form 4's made today were shares issued to the directors.
P.P.S. The 8K:
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 14, 2020, ANI Pharmaceuticals, Inc. (the “Company”) announced that Arthur S. Przybyl will depart as President and Chief Executive Officer on May 10, 2020. Mr. Przybyl’s departure will constitute a termination without good cause under his employment agreement, which agreement has previously been disclosed, and he will receive separation payments and benefits under his employment agreement in respect of a termination without good cause.
The Company’s Board of Directors has retained an executive search firm to lead the search for a new President and Chief Executive Officer.
A copy of the Company’s press release announcing the event described above is furnished herewith as Exhibit 99.1.
