NorthWest Biotherapeutics Inc (NWBO)

[kabunushi]

Biosect, you are certainly right in the distinction between trading shares on the open market and buying shares directly from the company. How much that matters for insiders buying I'm not really sure of.

But I think that you are mistaken about how you read the definition of who is an insider. Namely I think that you parsed the following sentence incorrectly (yours is a perfectly logical parsing, just not the correct one).

"Insider" is a term describing a director or senior officer of a publicly-traded company, as well as any person or entity, that beneficially owns more than 10% of a company's voting shares.

It's clear that you parsed the sentence making "that beneficially owns more than 10% of a company's voting shares." distribute back to "a director or senior officer " But I'm pretty sure that is wrong and in fact we need to read a hard stop after the end of the bold phrase. So the 10% owner phrase doesn't get distributed back to the other side of "...as well as..". I.e. Any director or senior officer is an insider regardless of how many voting shares he/she may or may not own.