Gary Cohen, CEO of health IT company iSOFT (ASX:ISF), has been forced to sell even more shares because of an ongoing decline in the company's share price.
Cohen said he had disposed of around 7.6 million more shares, because he had borrowed against the holding to participate in a share purchase plan.
Cohen had been forced to dispose of shares late last month, after the shareprice hit $0.175 from nearly $0.800 at the start of the year.
The stock since fell to a low of $0.065 yesterday, although it has today recovered 9% to reach $0.180.
Cohen said that as his outstanding liability on the loans is less than $1 million, he doesn't expect to have to sell off any more shares in the forseeable future.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.