We find that exercise-and-hold transactions tend to occur at monthly stock price lows.
This post comes from Shane Heitzman at the University of Rochester Simon Graduate School of Business, Dan Dhaliwal at the University of Arizona and Merle Erickson at the University of Chicago Graduate School of Business.
, we investigate the opportunistic timing of stock option exercises by insiders.
The behavior of two former executives--unnamed in the statement--raised "serious concerns" in Apple's internal probe.
On Saturday night, former CFO Fred Anderson resigned from the company's board to "avoid even the appearance of any conflict of interest".
Unlike exercises in which the acquired shares are sold immediately through a broker, these exercise-and-hold transactions are often accomplished in-house.