Mylan insiders sold $118 million in stock last month, thanks to the company deciding to accelerate stock options and compensation awards "in the best interest of the shareholders." To be more specific, the Executive Chairman sold $50 million!! The CEO sold approx $21 million! The President sold $15M! The President of North America sold $2Million! The board members all sold between $2M and as much as $7million for Dr. Maroon!
If you remember, back in December, they accelerated large parts of their compensation packages, including these stock options to vest in advance of the "new" company, located outside of the US to avoid paying taxes to the United States of America. According to insiders, this was done in an effort to "save shareholders" the burden of reimbursing insiders with transaction-related excise tax penalties associated with transitioning the compensation packages as-is, to the "new company."
Don't you think that it was a BIG assumption that these shares all would have vested, eventually? How do they know that all of these Executives would still have been at the company when these options were going to vest?
This has been described as "piggish" behavior by various investment sites. I'm not suggesting that they did anything illegal. I just wonder how that makes you feel, as a sales rep, scratching and clawing to hit your numbers, so that these "leaders" can do what's in their best interest. Do they make these kinds of assumptions when determining whether you should make a bonus?
Think about it when you get in your car for the 9,000th time to go out and push EpiPen to doctors who already know more about EpiPen than you could hope for (because of all of your hard work.) Think about the fact that without you, they could not pay themselves $50Million in one transaction! That doesn't even count base salary, bonus, other stock, personal use of the company jet, etc. Keep up the selling!!! I wonder what will happen when Teva comes out with a generic version of EpiPen mid summer?? I'm sure they'll keep you on the pay roll.
If you remember, back in December, they accelerated large parts of their compensation packages, including these stock options to vest in advance of the "new" company, located outside of the US to avoid paying taxes to the United States of America. According to insiders, this was done in an effort to "save shareholders" the burden of reimbursing insiders with transaction-related excise tax penalties associated with transitioning the compensation packages as-is, to the "new company."
Don't you think that it was a BIG assumption that these shares all would have vested, eventually? How do they know that all of these Executives would still have been at the company when these options were going to vest?
This has been described as "piggish" behavior by various investment sites. I'm not suggesting that they did anything illegal. I just wonder how that makes you feel, as a sales rep, scratching and clawing to hit your numbers, so that these "leaders" can do what's in their best interest. Do they make these kinds of assumptions when determining whether you should make a bonus?
Think about it when you get in your car for the 9,000th time to go out and push EpiPen to doctors who already know more about EpiPen than you could hope for (because of all of your hard work.) Think about the fact that without you, they could not pay themselves $50Million in one transaction! That doesn't even count base salary, bonus, other stock, personal use of the company jet, etc. Keep up the selling!!! I wonder what will happen when Teva comes out with a generic version of EpiPen mid summer?? I'm sure they'll keep you on the pay roll.
Mylan "insiders" sold $118M in stock
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