In 2010 Lanza's plan had no price per share restrictions, this year it does. When the agreement was signed below our pps was approx. .20, I am sure the .25 was expected with patient injections and all but didn't happen..
On May 24, 2011, Robert Lanza, Chief Scientific Officer, of Advanced Cell Technology, Inc. (the “Company”) adopted a pre-arranged stock trading plan to sell shares of the Company’s common stock beneficially owned by him. Dr. Lanza established his plan as part of his individual long-term strategy for asset diversification and liquidity. This plan was established under Rule 10b-5-1 of the Securities Exchange Act of 1934, as amended, and the Company’s polices regarding securities transactions. Pursuant to Dr. Lanza’s 10b-5 trading plan, a brokerage firm may sell up to 18,500,000 shares of the Company's common stock owned by him, at price intervals ranging between $0.25 and $1.00. The plan has no maximum time limit and will terminate on the earlier to occur of, a) the date upon which the brokerage firm receives notice of Dr. Lanza’s death, (b) Dr. Lanza fails to comply in any material respect with applicable law and/or his obligations under the plan, (c) two business days after the date on which the brokerage firm receives written notice that Dr. Lanza has terminated the plan (which may be for any reason), (d) two business days after the brokerage firm notifies Dr. Lanza in writing that the brokerage firm has terminated the plan (which may be for any reason), (e) two business days after the date on which the brokerage firm receives notice that Dr. Lanza has filed a petition for bankruptcy or the adjustment of Dr. Lanza’s debts, or a petition for bankruptcy has been filed against Dr. Lanza and has not been dismissed within thirty calendar days of its filing, and (f) two business days after the date on which the brokerage firm receives written notice that the Company has withdrawn its Issuer Representations Certificate. The maximum number of shares that may be sold under the plan constitutes approximately 65% of the shares of the Company's common stock that Dr. Lanza beneficially owns.
