This one slipped by my radar for a while because our friends at the SEC (Motto: "We Have No Idea What We're Doing") helpfully separated out the insider transaction filings from other filings and put them in a much less obvious location.
But at any rate, as you can see from the link, it was a very happy new year for the gang at Woodbury, as officers and board members alike awarded themselves thousands of free shares for their sterling performance in the collection of back royalties.
25,000 shares went to each member of the board, except for brand-new CEO Joe Harary, who raked in 150,000(!) shares (of which he gifted 36,000 to his children). Non-board members Michael LaPointe and Steven Slovak split just under 10,000 shares.
REFR investors, meanwhile, enjoyed a 78% thrashing of their investment in 2008, with no hope that the profit reported in the third quarter will be repeated in Q4, and the need to issue another secondary at record-low prices in the offing.
Great job guys!
Tuesday, January 13, 2009
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