Dendreon Corporation
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Re: No takeover, Please<I am not associating the JPM call with an imminent takeover and I concede that these may be two totally unrelated events.> They are unrelated. I'll offer an even bet on this, whatever size. <My reasoning behind the "done-deal" of a takeover> If it's a "done-deal", we should know soon. How about setting a date next? A week or a month from now? Take your pick and I'll offer another even bet that it won't happen, again whatever size. <has more to do with the "cleaning of the books" by getting rid of the outstanding warrants,> See Atech's early post about the effect of the outstanding warrants on earning and dougiec29's post on the time value of the warrants. Mr. Schifman did a good job cleaning up the books, preparing the company for a blow-out quarter next and getting 71.2M in the bargain. <Ian Clark's total sale of stock,> Only a few thousand shares. Who really cares. <Gold selling 71% of his stock,> Contrary to popular belief, "grants" of options and restricted stocks are not freebies. Companies always calculated their value and factor that into the compensation equation. Put it another way, a portion of the full compensation of an employee was forcibly taken from them and put at risk in the form of options and restricted stocks. As an example that I know well, employees of companies such as Google, Microsoft, etc. actually get less money in their base salary than if they work in a more traditional company that does not make use of options as much. However, their total compensation would work out about the same on a yearly basis -- Yes, companies do use market survey every so often to determine the market price for employee compensation. Of course, a hypergrowth company would make the at-risk component more lucrative in future years. But if a company fails, that at-risk component could also become worthless! So, when a company like DNDN experienced a quantum jump in valuation, nobody should complaint about employees cashing in their accumulated at-risk compensation. After all, there are people here who gained millions by just making their stock buys at the right time, why should DNDN employees not get the same benefit for their hard work? My reading of the executives' stock sale is simply that they were diversifying their assets or perhaps having some other needs for that money. And, they knew that more of their compensation will soon be put at risk again anyway -- See how that sounds more reasonable than their getting "free" options and stocks? <and the ASM this year being held in the backyard of Roche/Genentech...> The Genentech campus does have nice yards. But relevance to Dendreon's ASM? Probably not.
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| Msg # | Subject | Author | Recs | Date Posted |
| 350868 | Re: No takeover, Please | green228 | 1 | 5/19/2010 6:19:02 PM |
| 350888 | Re: No takeover, Please | croumagnon | 22 | 5/19/2010 7:58:55 PM |
