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He just announced that he wasn't going through with one of his planned December sales. Hard to see how he is breaking any law since he is neither buying nor selling shares. It's not illegal to just decide to hold shares AFAIK.


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If I read the OP correctly, it was a stock option exercise. That means he has the option on X number of stocks at a given price. If it was his plan to exercise those options and then sell them immediately for market price, and all he has done is decide not to sell them right away then he is buying stock.

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Why would he buy and hold? Easier to just not exercise the option until he is ready to sell. Buying and holding will decrease his cash and create a tax liability that will cost him more cash. Unless the options were expiring, this would be a very -EV thing to do.

Here's all I see on the matter. If you have additional info, post it here and I will revise my thoughts if necessary. If 'taken options' means buy and hold in UK speak then I see what you are saying. I interpreted it as he retains the option to buy xx number of shares in the future at a fixed strike price.

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Rueters -- The world's biggest listed online gaming firm, PartyGaming (PRTY.L: Quote, Profile , Research), said on Monday its chief executive, Mitch Garber, had taken options for 3.5 million shares and reversed previous plans to sell a chunk of stock.

Under his planned sale programme, Garber was to have sold shares between Dec. 19 and Dec. 31. He now holds 8.75 million shares in the firm, more than double the amount he is obliged to hold under his contract.


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