“Insiders” have to make their intentions well known often months in advance.
It’s not legal for Michael Frank to go out and buy shares today with out first announcing his intentions.
It gives other investors a chance to trade shares based on a CEOs intentions.
That is what makes the Pfizer’s CEO’s recent sell off suspect, because although his intentions were known ahead of time, it seems as if Pfizer rushed out a PR on a vaccine a day ahead of his “sell off date.”
By the way, Michael Frank was a Major investor in RVVTF prior to becoming CEO. That is why he & the rest of the board members stepped in and he became the new CEO.
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