
As if InVivo Therapeutics (OTC:NVIV) wasn’t having a tough enough time already, the company’s stock is under even more pressure as former CEO Frank Reynolds has been liquidating his position over the last few weeks.
NVIV shares were down about 6% today to trade at 64¢ apiece as of about 1:55 p.m. EST. The stock has dropped more than 40% over the last 3 months and is down nearly 70% since the start of 2014.
Reynolds began selling tens of thousands of shares each month in January 2013 and continued to do so at a sprint until May this year (see below for all his reported NVIV trading activity). In total, Reynolds has sold nearly 6.4 million shares and made more than $10.1 million, based on SEC filings. He still owns more than 9 million shares and is listed as a 10% owner of the company.
Massachusetts-based InVivo is already mired in a lawsuit against Reynolds, who stepped down last year citing health reasons. InVivo alleged that Reynolds ran up $500,000 worth of "personal and/or exorbitant expenses" during his time at the helm and that he was liable for "breaches of fiduciary duties, breach of contract, conversion, misappropriation of corporate assets, unjust enrichment, corporate waste."
Reynolds filed a counter-suit alleging breach of contract, breach of the covenant of good faith and fair-dealing, and tortious interference with a contract. Reynolds wants monetary damages and a declaratory judgment.
Reynolds, who was chairman, CFO & CEO, left InVivo suddenly in August 2013, citing a "medical condition." Back in 2009 and 2010, Reynolds told MassDevice.com and Inc. magazine that he’d suffered a spinal cord injury in a 1992 car accident that left him partially paralyzed. The executive later retracted the story, saying instead that he injured his back loading a truck and suffered spinal problems after a 1992 surgery to treat the injury.
The last year has been a tough one for InVivo, marred with an executive shuffle followed by a lawsuit against Reynolds and layoffs amid wide-scale restructuring. The company’s stock rallied some 56% last November when leadership said it would set aside hydrogel product development to focus on an upcoming clinical trial of its degradable spinal scaffold, but those gains have since been lost.
Reported NVIV trades made by Frank Reynolds (newest first):
SEC Filing | Trade Date | Title | Shares | Transaction | Value | Owned |
MMay 7 2014
|
10% Owner | 50,000 | Sale at $1.20 | $59,875 | 9,045,920 | |
MMay 1 2014
|
10% Owner | 37,500 | Sale at $1.87 | $70,113 | 9,083,420 | |
MApr 28 2014
|
10% Owner | 37,500 | Sale at $1.82 | $68,375 | 9,120,920 | |
MApr 22 2014
|
10% Owner | 50,000 | Sale at $1.51 | $75,750 | 9,158,420 | |
MApr 15 2014
|
10% Owner | 50,000 | Sale at $1.56 | $78,250 | 9,208,420 | |
MApr 10 2014
|
10% Owner | 37,500 | Sale at $1.63 | $61,125 | 9,258,420 | |
MApr 7 2014
|
10% Owner | 37,500 | Sale at $1.60 | $59,875 | 9,295,920 | |
MApr 3 2014
|
10% Owner | 25,000 | Sale at $1.71 | $42,750 | 9,333,420 | |
MMar 31 2014
|
10% Owner | 37,500 | Sale at $1.71 | $64,000 | 9,358,420 | |
MMar 27 2014
|
10% Owner | 25,000 | Sale at $1.75 | $43,875 | 9,398,920 | |
3/28/2014 18:58
|
MMar 24 2014
|
10% Owner | 25,000 | Sale at $1.75 | $43,875 | 9,398,920 |
3/26/2014 18:46
|
MMar 24 2014
|
10% Owner | 47,900 | Sale at $1.80 | $85,990 | 9,423,920 |
AMar 26 13:20:31
|
Feb 27 2014
|
10% Owner | 150,000 | Gift at $0.00 | $0 | 9,636,420 |
3/21/2014 17:47
|
MMar 18 2014
|
10% Owner | 39,600 | Sale at $2.15 | $85,220 | 9,621,820 |
3/17/2014 17:05
|
MMar 13 2014
|
10% Owner | 37,500 | Sale at $2.44 | $91,500 | 9,661,420 |
3/12/2014 18:05
|
MMar 10 2014
|
10% Owner | 37,500 | Sale at $2.33 | $87,250 | 9,698,920 |
3/10/2014 9:48
|
MMar 6 2014
|
10% Owner | 25,000 | Sale at $2.44 | $61,000 | 9,736,420 |
3/5/2014 19:58
|
MMar 3 2014
|
10% Owner | 37,500 | Sale at $2.49 | $93,500 | 9,748,920 |
2/28/2014 16:47
|
MFeb 27 2014
|
10% Owner | 25,000 | Sale at $2.44 | $61,000 | 9,786,420 |
2/26/2014 18:55
|
MFeb 24 2014
|
10% Owner | 37,500 | Sale at $2.28 | $85,375 | 9,798,920 |
2/24/2014 6:38
|
MFeb 20 2014
|
10% Owner | 25,000 | Sale at $2.23 | $55,750 | 9,836,420 |
MFeb 18 2014
|
10% Owner | 25,000 | Sale at $2.25 | $56,125 | 9,861,420 | |
MFeb 13 2014
|
10% Owner | 25,000 | Sale at $2.23 | $55,875 | 9,886,420 | |
MFeb 10 2014
|
10% Owner | 37,500 | Sale at $2.25 | $84,250 | 9,898,920 | |
MFeb 6 2014
|
10% Owner | 25,000 | Sale at $2.23 | $55,750 | 9,936,420 | |
MFeb 3 2014
|
10% Owner | 37,500 | Sale at $2.21 | $83,000 | 9,961,428 | |
1/31/2014 17:04
|
MJan 30 2014
|
10% Owner | 25,000 | Sale at $2.17 | $54,125 | 9,998,920 |
1/29/2014 20:37
|
MJan 27 2014
|
10% Owner | 37,500 | Sale at $2.22 | $83,125 | 10,023,920 |
MJan 23 2014
|
10% Owner | 25,000 | Sale at $2.25 | $56,125 | 10,051,920 | |
MJan 16 2014
|
10% Owner | 37,500 | Sale at $2.36 | $88,625 | 10,076,920 | |
MJan 13 2014
|
10% Owner | 37,500 | Sale at $2.22 | $83,375 | 10,114,420 | |
1/10/2014 17:51
|
MJan 7 2014
|
10% Owner | 48,000 | Sale at $2.40 | $115,440 | 10,151,920 |
MJan 2 2014
|
10% Owner | 36,000 | Sale at $2.28 | $82,080 | 10,199,920 | |
MDec 27 2013
|
10% Owner | 36,000 | Sale at $2.25 | $81,120 | 10,235,920 | |
MDec 23 2013
|
10% Owner | 36,000 | Sale at $1.99 | $71,520 | 10,271,920 | |
Dec 20 2013
|
MDec 19 2013
|
10% Owner | 24,000 | Sale at $1.96 | $46,920 | 10,307,920 |
MOct 21 2013
|
10% Owner | 36,000 | Sale at $1.39 | $50,160 | 10,763,920 | |
MDec 16 2013
|
10% Owner | 36,000 | Sale at $1.90 | $68,280 | 10,331,920 | |
Dec 13 2013
|
MDec 12 2013
|
10% Owner | 24,000 | Sale at $1.80 | $43,200 | 10,367,920 |
MDec 9 2013
|
10% Owner | 36,000 | Sale at $1.75 | $63,000 | 10,391,920 | |
MDec 5 2013
|
10% Owner | 24,000 | Sale at $1.59 | $38,160 | 10,427,920 | |
Dec 4 2013
|
MDec 2 2013
|
10% Owner | 36,000 | Sale at $1.90 | $68,520 | 10,451,920 |
MNov 25 2013
|
10% Owner | 48,000 | Sale at $2.00 | $96,000 | 10,487,920 | |
MNov 21 2013
|
10% Owner | 24,000 | Sale at $1.92 | $46,080 | 10,535,920 | |
Nov 20 2013
|
MNov 18 2013
|
10% Owner | 36,000 | Sale at $1.95 | $70,320 | 10,559,920 |
MNov 11 2013
|
10% Owner | 24,000 | Sale at $1.30 | $31,320 | 10,595,920 | |
Nov 13 2013
|
MNov 11 2013
|
10% Owner | 36,000 | Sale at $1.14 | $41,160 | 10,607,920 |
MNov 7 2013
|
10% Owner | 24,000 | Sale at $1.11 | $26,640 | 10,643,920 | |
MNov 4 2013
|
10% Owner | 36,000 | Sale at $1.16 | $41,760 | 10,655,920 | |
MOct 31 2013
|
10% Owner | 24,000 | Sale at $1.16 | $27,840 | 10,691,920 | |
MOct 28 2013
|
10% Owner | 36,000 | Sale at $1.23 | $44,400 | 10,715,920 | |
MOct 24 2013
|
10% Owner | 24,000 | Sale at $1.35 | $32,400 | 10,751,920 | |
MOct 21 2013
|
10% Owner | 24,000 | Sale at $1.40 | $33,600 | 10,775,920 | |
Oct 23 2013
|
10% Owner | 12,000 | Purchase at $1.38 | $16,560 | 10,763,920 | |
MOct 17 2013
|
10% Owner | 24,000 | Sale at $1.45 | $34,800 | 10,799,920 | |
MOct 14 2013
|
10% Owner | 36,000 | Sale at $1.49 | $53,640 | 10,787,920 | |
MOct 10 2013
|
10% Owner | 24,000 | Sale at $1.51 | $36,240 | 10,823,920 | |
MOct 7 2013
|
10% Owner | 36,000 | Sale at $1.41 | $50,760 | 10,847,920 | |
MOct 3 2013
|
10% Owner | 24,000 | Sale at $1.41 | $33,720 | 10,883,920 | |
MSep 30 2013
|
10% Owner | 36,000 | Sale at $1.43 | $51,480 | 10,907,920 | |
MSep 26 2013
|
10% Owner | 24,000 | Sale at $1.58 | $37,920 | 10,943,920 | |
MSep 23 2013
|
10% Owner | 36,000 | Sale at $1.49 | $53,760 | 10,967,920 | |
Sep 23 2013
|
10% Owner | 400,000 | Gift at $0.00 | $0 | 10,991,920 | |
MSep 19 2013
|
10% Owner | 24,000 | Sale at $1.37 | $32,880 | 11,403,920 | |
MSep 16 2013
|
10% Owner | 36,000 | Sale at $1.43 | $51,600 | 11,427,920 | |
MSep 12 2013
|
10% Owner | 24,000 | Sale at $1.50 | $35,880 | 11,463,920 | |
MSep 9 2013
|
10% Owner | 24,000 | Sale at $1.72 | $41,280 | 11,487,920 | |
MSep 5 2013
|
10% Owner | 24,000 | Sale at $1.61 | $38,640 | 11,511,920 | |
MSep 3 2013
|
10% Owner | 24,000 | Sale at $1.35 | $32,520 | 11,535,920 | |
Sep 4 2013
|
10% Owner | 1,000,000 | Gift at $0.00 | $0 | 11,547,920 | |
MAug 29 2013
|
10% Owner | 9,200 | Sale at $1.55 | $14,237 | 12,559,920 | |
MAug 26 2013
|
10% Owner | 12,600 | Sale at $3.24 | $40,872 | 12,569,120 | |
MAug 22 2013
|
10% Owner | 21,300 | Sale at $4.07 | $86,736 | 12,581,720 | |
MAug 19 2013
|
CEO, CFO, 10% Owner | 36,000 | Sale at $4.12 | $148,440 | 12,603,020 | |
MAug 15 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $4.24 | $101,640 | 12,639,020 | |
MAug 12 2013
|
CEO, CFO, 10% Owner | 36,000 | Sale at $4.34 | $156,240 | 12,663,020 | |
MAug 8 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $4.42 | $105,960 | 12,699,020 | |
MAug 5 2013
|
CEO, CFO, 10% Owner | 36,000 | Sale at $4.46 | $160,440 | 12,723,020 | |
MAug 1 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $4.57 | $109,680 | 12,759,020 | |
MJul 29 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $5.11 | $122,520 | 12,783,020 | |
MJul 25 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $5.29 | $126,840 | 12,807,020 | |
MJul 22 2013
|
CEO, CFO, 10% Owner | 36,000 | Sale at $5.72 | $206,040 | 12,831,020 | |
MJul 18 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $5.27 | $126,480 | 12,867,020 | |
MJul 15 2013
|
CEO, CFO, 10% Owner | 36,000 | Sale at $5.12 | $184,200 | 12,891,020 | |
MJul 11 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $4.42 | $106,200 | 12,927,020 | |
MJul 8 2013
|
CEO, CFO, 10% Owner | 36,000 | Sale at $3.97 | $143,040 | 12,951,020 | |
Jul 5 2013
|
CEO, CFO, 10% Owner | 12,000 | Sale at $4.00 | $48,000 | 12,987,020 | |
Jul 3 2013
|
MJul 1 2013
|
CEO, CFO, 10% Owner | 36,000 | Sale at $4.08 | $147,000 | 12,999,020 |
MJun 27 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $4.21 | $101,160 | 13,035,020 | |
MJun 24 2013
|
CEO, CFO, 10% Owner | 36,000 | Sale at $3.87 | $139,440 | 13,059,020 | |
MJun 20 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $3.78 | $90,720 | 13,095,020 | |
MJun 17 2013
|
CEO, CFO, 10% Owner | 36,000 | Sale at $3.89 | $140,160 | 13,119,020 | |
MJun 13 2013
|
CEO, CFO, 10% Owner | 24,000 | Sale at $3.83 | $92,040 | 13,155,020 | |
MJun 10 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $4.34 | $55,293 | 13,179,020 | |
MJun 6 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $4.01 | $34,128 | 13,191,770 | |
MJun 3 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $3.75 | $47,813 | 13,200,270 | |
MMay 30 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $3.31 | $28,178 | 13,213,020 | |
MMay 28 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $3.12 | $26,563 | 13,221,520 | |
MMay 23 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $2.94 | $25,033 | 13,230,020 | |
MMay 20 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.88 | $36,678 | 13,238,520 | |
MMay 16 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $2.87 | $24,353 | 13,251,270 | |
MMay 13 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.89 | $36,805 | 13,259,770 | |
MMay 9 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $2.92 | $24,820 | 13,272,520 | |
May 1 2013
|
CEO, CFO, 10% Owner | 78,540 | Gift at $0.00 | $0 | 13,293,770 | |
MMay 6 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.93 | $37,315 | 13,281,020 | |
MMay 2 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $3.04 | $25,798 | 13,372,310 | |
MApr 29 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $3.09 | $39,398 | 13,380,810 | |
MApr 25 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $2.86 | $24,310 | 13,393,560 | |
MApr 22 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $3.02 | $38,463 | 13,402,060 | |
MApr 18 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $3.15 | $26,733 | 13,414,810 | |
MApr 15 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $3.24 | $41,310 | 13,423,310 | |
MApr 11 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $3.16 | $26,860 | 13,436,060 | |
MApr 8 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $3.03 | $38,590 | 13,444,560 | |
MApr 4 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $2.77 | $23,503 | 13,457,310 | |
MApr 1 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.27 | $28,985 | 13,465,810 | |
Mar 28 2013
|
CEO, CFO, 10% Owner | 4,250 | Sale at $2.40 | $10,200 | 13,478,560 | |
MMar 25 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.45 | $31,195 | 13,482,810 | |
MMar 21 2013
|
CEO, CFO, 10% Owner | 8,500 | Sale at $2.46 | $20,910 | 13,495,560 | |
Mar 20 2013
|
MMar 18 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.39 | $30,515 | 13,504,060 |
Mar 15 2013
|
MMar 13 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.31 | $29,450 | 13,516,810 |
Mar 12 2013
|
MMar 8 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.17 | $27,661 | 13,529,560 |
Mar 7 2013
|
MMar 5 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.28 | $29,010 | 13,542,310 |
Mar 4 2013
|
MFeb 28 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.10 | $26,780 | 13,555,060 |
Feb 27 2013
|
MFeb 25 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.79 | $22,828 | 13,567,810 |
Feb 22 2013
|
MFeb 20 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.69 | $21,541 | 13,580,560 |
Feb 22 2013
|
Feb 22 2013
|
CEO, CFO, 10% Owner | 171,000 | Gift at $0.00 | $0 | 13,584,810 |
Feb 19 2013
|
MFeb 14 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.80 | $22,939 | 13,764,310 |
Feb 13 2013
|
MFeb 11 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.91 | $24,405 | 13,777,060 |
Feb 13 2013
|
Feb 11 2013
|
CEO, CFO, 10% Owner | 404,000 | Gift at $0.00 | $0 | 13,785,560 |
Feb 8 2013
|
MFeb 6 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.04 | $25,978 | 14,193,810 |
Feb 5 2013
|
MFeb 1 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.03 | $25,839 | 14,206,560 |
Jan 31 2013
|
MJan 29 2013
|
CEO, CFO, 10% Owner | 9,600 | Sale at $2.26 | $21,653 | 14,219,310 |
Jan 28 2013
|
MJan 24 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.42 | $30,867 | 14,228,910 |
Jan 23 2013
|
MJan 18 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.47 | $31,521 | 14,241,660 |
Jan 17 2013
|
MJan 15 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.47 | $31,435 | 14,254,410 |
Jan 14 2013
|
MJan 10 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.31 | $29,491 | 14,267,160 |
Jan 9 2013
|
MJan 7 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $2.08 | $26,513 | 14,279,910 |
Jan 4 2013
|
MJan 2 2013
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.80 | $22,907 | 14,292,660 |
Dec 31 2012
|
MDec 27 2012
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.82 | $23,173 | 14,305,410 |
Dec 26 2012
|
MDec 21 2012
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.64 | $20,853 | 14,318,160 |
Dec 21 2012
|
MDec 19 2012
|
CEO, CFO, 10% Owner | 8,500 | Sale at $1.62 | $13,807 | 14,330,910 |
Dec 18 2012
|
MDec 14 2012
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.63 | $20,810 | 14,339,410 |
Dec 13 2012
|
MDec 11 2012
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.64 | $20,958 | 14,352,160 |
Dec 10 2012
|
MDec 6 2012
|
CEO, CFO, 10% Owner | 12,750 | Sale at $1.67 | $21,238 | 14,364,910 |
Apr 11 2012
|
MApr 10 2012
|
CEO, CFO, 10% Owner | 270,000 | Sale at $2.26 | $610,868 | 14,377,660 |
Jan 6 2012
|
MJan 4 2012
|
CEO, CFO, 10% Owner | 250,000 | Sale at $2.59 | $647,945 | 14,647,660 |
Jan 3 2012
|
Dec 30 2011
|
CEO, CFO, 10% Owner | 11,500 | Sale at $2.70 | $31,050 | 14,897,660 |
AJan 3 2012
|
Dec 29 2011
|
CEO, CFO, 10% Owner | 95,000 | Sale at $2.52 | $239,020 | 14,909,160 |
Dec 30 2011
|
MDec 28 2011
|
CEO, CFO, 10% Owner | 238,500 | Sale at $2.65 | $631,665 | 14,909,160 |
(A) Amended filing (a previous filing had an error)
(D) Derivative transaction exists (usually option exercise)
(M) Multiple transactions summarized; earliest reported transaction date and weighted average transaction price