Andiamo Corp. (ANDI)

[specutator]

The rule you posted is regarding "issuers", not private individuals.

An issuer in this case would be ANDI, the company, not the CEO.

Regardless, they are not limited to the bid as stated in the rule:

The price condition is intended to prevent the issuer from leading the market for the security through its repurchases by limiting the issuer to bidding for or buying its security at a price that is no higher than the highest independent published bid or last independent transaction price. As such, the price condition uses an independent reference price that has not been set or influenced by the issuer but, instead, is based on independent market forces.