This doesn't leave a great taste in my mouth. Not only did he sell below market price at the time, showing he needed money (and I am always wary about directors not having enough liquid assets to avoid this sort of thing)... and then the company had to essentially pay him 50k to not sell more (meaning he was planning to)...
One could theorise that he is on the way out from this announcement and that the company wants this 6 months to find an investor willing to take this stock.
Ann: Cirrus founder sell down and voluntary escrow, page-2
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