IDEX Biometrics Execs Double Down on Share Purchases, and Then Some

Biometrics News - IDEX Biometrics Execs Double Down on Share Purchases, and Then Some

Recently appointed executives with IDEX Biometrics have continued to purchase large quantities of shares in the company after initial transactions last week.

The latter were conducted shortly after a second quarter update from IDEX highlighting its progress in advancing its interests in the emerging biometric payment cards market. A fingerprint sensor specialist, IDEX has been working to ensure that its technology is ready for integration into payment cards designed to biometrically authenticate cardholders during transactions.

Stephen A. Skaggs, an experienced executive from the semiconductor industry who was appointed to IDEX’s Board of Directors at the time of the company’s Annual General Meeting, had purchased 50,000 shares in the company on August 21st, and another 50,000 the following day, bringing his total shareholdings in IDEX to 150,000. Meanwhile, IDEX’s new CFO, Derek P. D’Antilio, bought 50,000 shares on August 22nd.

Now, IDEX Biometrics has disclosed that D’Antilio purchased another 50,000 shares on August 26th, bringing his total to 100,000 shares, together with 2,000,000 incentive subscription rights to shares in the company.

Stephen Skaggs, for his part, has upped the ante considerably, making multiple 50,000-share purchases on August 23rd, 26th, 27th, and 28th to bring his total IDEX shareholdings to 350,000.

The share purchases were revealed as mandatory disclosures from IDEX Biometrics, with no commentary provided from the company. But they seem to suggest a certain degree of enthusiasm among IDEX’s newest executives over the company’s prospects; and they point to the growing excitement over biometric payment cards more broadly as Visa, Mastercard, and other major financial services organizations gear up for anticipated large-scale launches of fingerprint-scanning payment cards.

August 29, 2019 – by Alex Perala