How many options of pphm could management have exercised and sold for a substantial profit and chose not to do so? A smart person would conclude they feel they can make much more profit in the future so do not want to exercise and sell now for much smaller profit.
There is NO INCENTIVE for MANAGEMENT to buy Shares. The only reason SK even owns as many shares as he does is because he was REWARDED for a mistake by the BOD.
The BOD and Management have more than enough OPTIONS to last them a lifetime. The benefit of the OPTIONS are that they are protected against Reverse Splits and price fluctuations.
If the OPTIONS VEST Schedules were based upon quantifiable EXPECTATIONS, than, that might be another thing.
The OPTIONS which are handed out seem to be just a formality. No matter how poorly the PPS is doing, Options get doled out like candy on Halloween.
I also don't see anything which holds the BOD or Management Accountable.
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