CFO Somaiya Mayur Ian sold 100,000 shares (63.1% of holdings) for $3.3M at NAMS on Jan 20-21.
Somaiya Mayur Ian, Chief Financial Officer, executed 5 separate sales totaling 100,000 shares (100.0K shares) for $3,260,617.98 ($3.3M) over January 20-21, reducing his holdings from 158,382 shares to 58,382 shares—a 63.1% reduction in stake. The company is deeply unprofitable with a net income of $-72,005,000.00 ($-72.0M) in its most recent full fiscal year, while the CFO divested at prices ranging from $30.64 to $33.80 against a current price of $34.81. This large proportional reduction in the CFO's holdings at a company operating at significant losses merits close examination of the insider's confidence posture and any contemporaneous business developments or financing needs that may have prompted the liquidation.