PTE: Director Defecting? Selling Stock & a Line of BS
Aug 18, 2022 1:56:53 GMT
c2crusher and highskier like this
Post by icemandios on Aug 18, 2022 1:56:53 GMT
On 8/16/22, Peter Cohen sold 15,106 shares averaging 1.3255. After correcting an erroneous remainder owned for the split adjustment, he owned 15,798 shares.
This sale was dismissed as "part of the reporting person's year-end tax planning strategy."
In August?
And on 8/17/22, Cohen sold 8,555 averaging 1.2795. Again, the sale was footnoted as "part of the reporting person's year-end tax planning strategy." This leaves him with 7,243 shares.
Now, we've heard of the 105b-1 planned sale arrangement, but I've never heard of a similar "end of year tax planning strategy. And with a full quarter remaining, it sounds like Peter Cohen lacks faith in the trajectory of PTE's stock going forward. But I give him credit for trying to make it sound less dour.
The fact remains that he, prior to 8/16, owned 30,904 shares and now owns 7243 shares, so far.
Of course, all the numbers above were adjusted for the 1 for 25 reverse split. Could be he'll be doing more "tax planning."
This sale was dismissed as "part of the reporting person's year-end tax planning strategy."
In August?
And on 8/17/22, Cohen sold 8,555 averaging 1.2795. Again, the sale was footnoted as "part of the reporting person's year-end tax planning strategy." This leaves him with 7,243 shares.
Now, we've heard of the 105b-1 planned sale arrangement, but I've never heard of a similar "end of year tax planning strategy. And with a full quarter remaining, it sounds like Peter Cohen lacks faith in the trajectory of PTE's stock going forward. But I give him credit for trying to make it sound less dour.
The fact remains that he, prior to 8/16, owned 30,904 shares and now owns 7243 shares, so far.
Of course, all the numbers above were adjusted for the 1 for 25 reverse split. Could be he'll be doing more "tax planning."