I do understand your skepticism. However, in general, it would be an extremely shocking act for directors to buy at 60 c only to sell and retain options. If they stooped that low, then why not just give themselves performance rights with options 1 dollar?
in general directors do sell but at higher prices.
I do agree the inclusion of options left the sp vulnerable as people just sell for even a few c and hold a zero risk.
74997 ppm u308, page-29
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