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Sold 0.46 million shares. There are nearly 2.5 million share...

Sold 0.46 million shares. There are nearly 2.5 million shares left.
Based on the trading volume (3.01 million shares) and short selling ratio (8.07%) on 11/20, along with previous trends and the company's prior disclosures, it may be a pre-planned compliant insider trading transaction.
Planned price manipulation before the disclosure of clinical results, then disclosing the clinical results, triggering regulations, selling off (or transferring chips to buyers), causing the stock price to drop. However, the drop is within the expected range, ending the sell-off and beginning the next trend.
In this downturn, the lowest price is higher than the issuance price at the beginning of the year.
🔴On March 28, 2024, NAP PoolCo B.V. ("PoolCo") adopted a 10b5-1 rule trading plan, potentially selling up to 2.95 million shares of common stock, subject to certain price thresholds and other conditions. The purpose of this arrangement is to allow insiders to sell their held company stocks without violating insider trading laws. The estimated decline in stock price may be related to this, and the set conditions thresholds may be related to the disclosure of this clinical outcome.
🔴Below are more references to the 10b5-1 rule and pre-arranged trading under this rule:
🔺10b5-1 Rule: The 10b5-1 rule is a rule established by the U.S. Securities and Exchange Commission (SEC), allowing insiders (such as executives and directors) to buy or sell company stocks based on pre-set plans, even if they later gain access to insider information. The rule requires insiders to have no insider information when creating the trading plan, and must submit it to the SEC before it takes effect.
🔺Trade Arrangements: The 10b5-1 rule trade arrangement adopted by PoolCo allows for the sale of up to 2.95 million shares of the company's common stocks upon meeting certain pre-set conditions (such as price thresholds and other conditions, but this detail is not disclosed in the company's filings).
🔺Purpose: The purpose of this arrangement is to provide PoolCo with a way to sell their held company stocks without violating insider trading laws. This also helps insiders to trade stocks without arousing speculation about their stockholding intentions.
🔺Timing: Trades under this arrangement may not begin earlier than 90 days after its adoption or two business days after the filing of the quarterly report on Form 10-Q. The expiration date of this arrangement is June 28, 2026.
🔺The background of PoolCo: PoolCo is a Dutch limited liability company, representing its shareholders holding common stocks in the company, controlled by Forbion International Management B.V. The board member of the company, Sander Slootweg, is one of the directors of Forbion International Management B.V.
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