TSOI-Sounds good but legal would never sign off on it. This is all I have to say on this subject but appreciate your thoughts.
bbw-Unfortunately that reply makes no sense as officers & directors buy stock in the open market with their own cash all the time.
My read on TSOI response-blackout period: A blackout period is a policy or rule setting a time interval during which certain actions are limited or denied. It is most commonly used to prevent company insiders from trading stock based on insider knowledge.
Insiders can (and do) buy and sell stock in their own company legally all of the time; their trading is restricted and deemed illegal only at certain times and under certain conditions. A common misconception is that only directors and upper management can be convicted of insider trading.
for Insiders to sell
Rule 10b5-1 allows company insiders to set up a predetermined plan to sell company stocks in accordance with insider trading laws. The price, amount, and sales dates must be specified in advance and determined by a formula or metrics.