Thank you Rip Tilden for your timely insider sale
Well it looks like you really did some favor for the outside shareholders. I suppose it wasn’t enough for you to make a voluntary discretionary sale in late June of 23,500 shares @ about $18.50 per share for around $435,000. I suppose that was not nearly enough cash to meet your needs. So you sold another 17,830 shares @ around $23.20 per share for a total of about $415,000 more.
You knew that Goldberg was tied into a prearranged and preannounced 10b5-1 trading plan and would have to be selling by year-end. I think that you probably knew that insider sales by both the CEO and COO would surely not look too good to the investment community, but you still made your discretionary voluntary sale anyway. That took over $1 per share of the stock price and $60 million off the market cap. You’ve also probably stopped the positive momentum in the stock when it was finally gaining some nice traction.
How can you go on the various roadshows touting the company and the stock to institutional investors, and keep personally selling significant amounts of IDCC stock just before critical events unfold? Again thank you very much for your great leadership example and display of confidence in the company. BTW should we expect that this extra money might tide you over for what another five or six more months before you sell again?
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