Biotech Values

[DewDiligence]

Have you seen an instance where insiders have ceased these type of sales only to see later there was a "material event" which was the reasoning for the cease of sales?

It would be hard to know when this has happened because termination of a 10b5-1 plan is not normally reported in an SEC filing. In most cases, you would have to deduce that a plan was terminated by the lack of 10b5-1 sales during a period when such sales would have been expected.

if there is, in fact, a "material event," is this a legal obligation for them to stop selling, or is this just a personal trading decision by the selling party?

Insiders could legally continue selling under their 10b5-1 plans, but if the non-public material event is bullish, why would they want to?