FBR General Discussion, page-32

yep, understand the concept of angel investors.
Don't understand when any of those investors such as Horsley Park that are/were in the Top 20 do not need an announcement when they receive performance shares.

A couple of aspects of this comes to mind.
Until today I had always considered that the performance shares were only going to Mike and Mark and therefore didn't add any dilution. Shares are locked up, and increasing Mike and Mark's holdings reduced the chance of a hostile takeover. All seemed good to me on this topic.

Now it appears that 30% of the performance shares (~49 million shares) are going in unknown parcel sizes to unknown holders, some of whom may decide to off load a few for all sorts of possible reasons.
I was pro these performance shares being awarded, regardless of how. Not anymore.
This is another red flag for me. Might not be for others. It is for me.