That's a good point Ky. From what we've seen they aren't putting up their own money in the same way we do (except for Anzer, who isn't an employee). However, Stock based employee compensation for the 1st 9 months of 2007 was slightly over 500K, so how is that much different than being paid in cash, and then taking a risk by buying shares?
They also get incentive based stock options. They are working, and it appears they are working very hard. There is risk involved with those I think, as they are tied to a certain price. Avg Exercise Prices of options at 9/30/2007: 26 and 16 cents.
We don't know their personal situations. They may have other money available, or they may be deeply in debt.
So, it doesn't sound fair to me to completely discount the shares insiders get as freebies, and involving no risk. They aren't free for those that work for the company. They pay with their hard work for compensation-based shares, and they only get rewarded for option-based shares if they succeed enough to get the stock price up.
I think we need to be careful when looking at these types of issues. They may be as bothered as we are by the effect of dilution. What if we did see big insider buys at .01--then would we accuse them of stock manipulation?
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