Merritt took roughly a quarter of a million off the table before taxes. It represents a relatively small percentage of his total options holdings. It seems reasonable to me that a man might make such a sale at any time, especially if he saw it as part of his regular compensation.
The problem with these sales may be more a matter of Street perceptions than Company substance. Perhaps it is time for IDCC to structure compensation in a different way. When the Company was in dire financial straits, it made sense to me to reward the executives with options rather than salary.
Under the current structure executives have little incentive to buy the stock, even if they believe the price will go higher. JMHO.
Thanks for the immediate response. This is a terrific board.
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