Tom Meaney established stock trading plan, but won't sell any shares below $0.50. That, to me, suggests that he expects the share price to go higher and that he will sell into news.
Form 8-K for MIKROS SYSTEMS CORP
21-Dec-2007
Other Events
Item 8.01 Other Events.
On December 10, 2007, Thomas J. Meaney, Chief Executive Officer of Mikros Systems Corporation (the "Company", "we" or "us"), established a stock trading plan in accordance with the guidelines of Rule 10b5-1 of the Securities and Exchange Act of 1934 and our policy regarding stock transactions by insiders. The transactions under this plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. This trading plan is not meant to reflect a lack of confidence in us or our future by Mr. Meaney, but rather is designed for estate planning purposes and to allow Mr. Meaney to monetize a portion of his equity position in a systematic, nondiscretionary manner with the goal of minimal market impact and compliance with regulations adopted by the Securities and Exchange Commission.
Under Mr. Meaney's 10b5-1 plan, which became effective on December 10, 2007, Mr. Meaney may sell shares of our common stock at prevailing market prices (but not below a predetermined target price of $0.50). The total number of shares subject to Mr. Meaney's plan is 120,000. These sales are expected to take place periodically until November 30, 2008.
