Replies to post #92304 on Biotech Values

[DewDiligence]

Execs have a right to sell shares. That's why we as shareholders approve shareholder plans.

Not sure what you’re referring to; establishment of a 10b5-1 plan does not require shareholder approval, and I’m not aware of any companies who have solicited a shareholder vote regarding such a plan.

[biomaven0]

The executive has the option.

Well putting my old securities lawyer hat on, I'd say if the executive has any discretion at all, then the plans simply do not conform.

Note this does not mean the sales themselves are illegal - just the selling executives no longer have an affirmative 10b5-1(c) defense against an insider trading accusation.

Peter