The actual intent of an officer or insider is never disclosed in the Form 4 filings. However, your guess that the sale of that 6,000 shares was to cover the tax liability for the 16,689 shares he acquired from stock options at no cost to him and therefore had a zero basis to him.

But also check Table II of that form and you will notice that on the same day he acquired those 16,689 shares, he also sold an identical amount of 16,689 shares. The company is losing money hand over fist and he as CEO does not appear to have the confidence and cashed out to free up some cash or use it in a more profitable or safer investment.

I am looking at this document

http://www.secform4.com/filings/817979/000114036114004566.htm

I need to know if I am reading this correctly.

Main question:

It looks like he acquired 16,689 shares at zero cost as an Option Execute.

Does this mean he made a decision to buy it?

It looks like disposed of 6,064 shares - I assume this was for taxes?

These may not matter but it then shows

Spouse $10,000 - &

Revocable Trust - $40,432

as Amount of Securities Beneficially Owned Following Reported Transaction(s)

did he give them the stock or what is this