Alison Dean, an iRobot vice president and "principal accounting officer", exercised options for 25,000 shares at about $18 a share, with a strike price of $14.54 and an exercise date of 2015! Details at this link. (Thx, Microcapfun)
Alison Dean comes with a solid pedigree (Brown University, etc.), but this would seem to be one of the dumbest financial moves I've seen since the Knicks signed an aging Allan Houston to a 7-year guaranteed contract. She cashed in $3.50 a share in profits when she could have waited at any point for the next 7 years to make more. Even a jump back to $20 would have meant an extra 60% gain! I wonder what the market would have priced a 2015 option at? Surely far more than $3.50 a share! [In fact, Alison, if there is any way you can buy back those options and sell them to me, I'll give you $5 a share right now!] I wonder if there is a good reason for this, like she has an upside down jumbo mortgage on a yacht and needs cash fast, or has a job offer as an analyst at Goldman and is jumping ship and needs to rid herself of conflicts of interest?
At any rate, it's not exactly a vote of confidence when your chief accountant makes moves like this.
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