Sound and fury, signifying…

Well, we’re not sure yet, but something seems to be going on over at Home Solutions of America, Inc. (HOM). The stock, which traded over 3,000,000 shares today (compared to a 3-month average of 513,000), seems to be taking off. (Especially when you look at this chart.) For investors’ sake, I hope the joyride continues. Unfortunately, from this 8-K filing filed late Friday, insiders seem to be searching for a getaway car.

In the filing, Home Solutions disclosed stock option agreements with Frank J. Fradella, the Company’s Chairman, President, and CEO, and Rick J. O’Brien, the Company’s Senior Vice President, Secretary, and CFO, in which both men are granted 100,000+ options apiece to purchase Common Stock for $2.53 per share, immediately vested. Innocent enough on the surface, but the filing also discloses amendments to three stock option agreements with Fradella and O’Brien whereby the unvested portions of certain stock options held by these officers (Fradella’s stock option is for 750,000 shares of Common Stock; O’Brien’s two stock options are for an aggregate of 500,000 shares of Common Stock) became immediately vested. These options, mind you, date back from the 2001 Stock Option Incentive Plan, but just now seem juicy enough to cash in.

To quote my favorite foreign phrases: Laissez les bons temps rouler but caveat emptor.