Bill Meury just dumped 58,879 shares. I guess he doesn't believe in the stock either.

Discussion in 'Allergan' started by anonymous, Feb 19, 2018 at 10:30 AM.

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  1. anonymous

    anonymous Guest

    That is just outrageous.
    It is horrible leadership and a window into his lack of conviction that Allergan can turn its exceptionally poor performance around.

    Saunders just claimed that 2018 performance would convince the market that Allergan is significantly undervalued. Meury’s sale just belied that claim.

    Far from not selling, these senior leaders like Saunders and Meury ought to be buying sizeable amounts of stock to stand behind their employees and shareholders. Or they should leave and let some real leaders come in and try to sort out this mess.

    It’s offensive. Leadership is not a prize. It’s an obligation.
     
  2. anonymous

    anonymous Guest

    59,000 shares probably represent a fraction of his total holdings. He may have held options that were about to expire and needed to sell some to pay his tax bills. Yes I'm implying $10mm is a small number compared to what he actually holds and/or has already taken. Either way, it's a $10mm sale and that opens a few eyes. The craziest thing would be if he didn't take any profit while the stock was twice that amount.
     
  3. anonymous

    anonymous Guest

    Looking at the Yahoo finance insider roster, he held 55,410 shares on Dec 28th 2017, so it looks like he may have dumped everything he had:

    https://finance.yahoo.com/quote/AGN/insider-roster?p=AGN

    (Unless I'm reading it wrong)
     
  4. anonymous

    anonymous Guest

    Well since he sold 59k shares it's clearly wrong. It also doesn't include how many options he holds, when they mature, or when they expire. The expiration of options is often a driving factor. It forces the holder to act and it often drives sales to cover the tax bill. Imagine if that was the case....if the $10mm simply covers the tax bill. In that scenario it means he exercised and held about $30mm in additional stock (assuming a 25% tax rate).
     
  5. anonymous

    anonymous Guest

    According to SEC’s website, only about 4,700 options were due to expire in 12/2018. Another 18,891 were due to expire in 12/2019. He had an average strike price of about $60 for those. The remaining shares were averaging around $160/share.
    https://www.sec.gov/Archives/edgar/data/1536778/000117911018002291/xslF345X03/edgar.xml
     
  6. anonymous

    anonymous Guest

    Probably on his way out....
     
  7. anonymous

    anonymous Guest


    I would be. What is there to stick around for? Complete embarrassment?
     
  8. anonymous

    anonymous Guest

    Ankw for sharing. It's good to see some people on CP can use facts to drive a discussion instead of innuendo. Bill has had a thirty year career and has multigenerational wealth. If he wants to retire who can blame him.
     
  9. anonymous

    anonymous Guest

    I give up. You all don’t deserve leaders.
     
  10. anonymous

    anonymous Guest

    Glad I cashed out after layoffs in 2015 when stock was $315 a share!