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Shares of Zagg (ZAGG +0.5%) continue their bounce off yesterday's conference call spin, but the...

Shares of Zagg (ZAGG +0.5%) continue their bounce off yesterday's conference call spin, but the drama over former CEO Robert Pederson's insider sales continues. After resigning last week following his disclosure of selling of 512K shares, Mr. Pederson revealed another sale late yesterday, this time totaling over 1.25M shares at an average price of $6.90, for a grand total of $8.6M. It has yet to be established whether this sale was conducted to meet any further margin calls.
Comments (4)
  • wigit5
    , contributor
    Comments (3964) | Send Message
     
    How is that not violating some SEC law or something. The CEO selling stock before he announces his unexpected resignation?
    29 Aug 2012, 03:16 PM Reply Like
  • Zach Tripp
    , contributor
    Comments (390) | Send Message
     
    He announced his resignation because he sold the stock. Reading between the lines, I assume the board recommended he resign.
    30 Aug 2012, 07:23 AM Reply Like
  • TruffelPig
    , contributor
    Comments (4059) | Send Message
     
    The conference call said exactly that there are no more future margin calls. Maybe read SA publications like the transcript of it woul help.
    29 Aug 2012, 04:55 PM Reply Like
  • Beans Counter
    , contributor
    Comments (14) | Send Message
     
    The first sale was what got him "fired", the second was after the announcement. Both were filed within the two day requirement.
    29 Aug 2012, 06:01 PM Reply Like
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