Michele Vion Choka, Director at CALLIDUS SOFTWARE INC (CALD), sold 10,000 shares at $19.72 ($197K) on 2015-11-13, disclosed to the SEC on 2015-11-16.
Scheduled sale ($197k) by Director under a pre-arranged 10b5-1 plan. Pre-set trade — not a discretionary signal on the stock.
Negative factors outweigh the positive ones.