09-30-2015, 01:25 AM
'Palm' pid='63240' datel Wrote:These guys have no intentions of buying stock in the open market. If they did they could have requested permission at certain times and probably been granted that permission. They will take the freebies granted and have little or no risk in all of this personally. They have this BOD in their back pockets and the BOD does the same thing; take option grants for serving on another BOD.
The restrictions on insider buying while there is drilling are overly restrictive and beyond what is necessary to be legal.
The shareholders need to clean this up as management and the board will not.
No insider buying is shameful in my opinion and inexcusable. They can hide behind the policy they have adopted, but that does not make it right.
Do similiar companies ie Oil Search have as restrictive provisions?
Phil M had his problems, but at least he had skin in the game.