Steve Davis sells $4.9 million in stock - edited | ACAD Message Board Posts

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Msg  16116 of 16314  at  12/6/2019 8:38:27 PM  by

BelieverTim

The following message was updated on 12/6/2019 8:57:50 PM.

 In response to msg 16114 by  LINK
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Re: Steve Davis sells $4.9 million in stock - edited

Davis was given 600,000 options at $19.65 on 3/17/16.  This was the price that the stock was trading at at the time.  The first of two 2016 offerings had tanked the stock earlier in the year. 25% of those 600K options became exercisable on March 15, 2017. Davis pre planned the 12/05/19 exercise date for those 150K options on August 22, 2019 when we closed at $29.21. A couple of weeks later on September 9 (my birthday) Davis announced DRP results. We then released great detail of the DRP data on 12/04/19 after market close - accompanied by the greatest PR job that we have ever done.  Sly dog or lucky dog - you pick. I think he’s solid. From the Form 4:
“1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 22, 2019. 2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.64 to $53.63, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. 3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.63 to $52.62, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.72 to $51.62, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. 5. 25% of the 600,000 shares originally subject to the stock option vested and became exercisable on March 15, 2017, and the remaining shares vest in 36 equal monthly installments thereafter.”  


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Msg # Subject Author Recs Date Posted
16117 Re: Steve Davis sells $4.9 million in stock - edited exsoccerman 6 12/6/2019 9:12:48 PM






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