I guess we will have to post this daily because everyone keeps asking why is Lanza selling... From the ACTC website.
One last comment. The company issued stock to its employees at the beginning of this year; in part, for recognition of the scientific and development successes achieved in 2009 in the face of a difficult economic environment. The Board also felt that the two senior officers should be treated as “Founders”, having brought the company through a treacherous experience in 2008. Dr. Lanza has been with the company over a decade now. Up until this year, he had never sold a share of company stock. Because his stock award is taxable at ordinarily income tax rates at .097 per share, he established a “program selling” mechanism to fund part of his income tax obligation for that award. It should be very clear to all, that the senior company officers through the stock they hold are very much aligned with the current investors. As you know, I agreed, and the Board of Directors have reaffirmed as part of each debenture financing including the 2009 September restructure, not to sell any stock until the debentures have been liquidated. Each Director agreed to have their 2010 stock award restricted for one year. It should be clear that the senior company officials and the shareholders are totally aligned. Our total focus is achieving our milestones and moving onto the next set as expeditiously as possible. This is the formula to create significant increases in permanent shareholder value even in the face of economic uncertainty or “short term” market instability.
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