Many insiders at VRNG have established trading plans to partially liquidate their holdings. Here is a complete list by officer or director of transactions reported 10/17:
- CFO Ellen Cohl: Sold 1346 at 4.46 (and exercised options at .01). Her holdings are now 35K only plus the 100k unvested stock that they gave her in July
- CEO Andrew Perl: Sold 4K at 4.625 (and exercised options at 0.96). His holdings are now at 741666, including 88K left of the options he exercised. Not sure if this includes his stock grant from this summer.
- Seth Siegel sold 2421 at 4.367 and now holds almost 386K
- John Engelman sold 1173 at 4.65 and now holds 265K
- Andrew Lang sold 14558 at 4.655 and holds >5.7mm shares
- Alex Berger sold 8828 at 4.6578 and now holds >2.5mm shares (675K is unvested restricted stock)
While these sales aren't particularly material in terms of size and are in accordance with previously detailed plans, I don't think that they help the cause by cashing out at all. From a forward-looking perspective, investors in VRNG should keep in mind that win or lose, these guys have a lot of low cost (or free) stock that they can sell in the future. There have been no insider purchases with their own money from what I have seen.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.