SiliconBeat

Atigen Communications of Fremont is cutting the size of its board in the wake of a decision to not renominate Eric Wanger after learning that he traded in the company’s stock during blackout periods that prohibit insider trading. The change becomes effective at the company’s next annual shareholders meeting on Feb. 9, according to a filing with the SEC Monday.

Altigen also reported in its proxy that was also filed Tuesday, that Wanger failed to timely file 32  separate forms, including 25 covering 67 transaction related to the acquisition of 785,973 shares of the maker of telecommunications server products.

Wanger revealed his increased holdings in an amendment to a 13D filing on Dec. 12 in which he reported “a material increase” in his Altigen holdings that was due months earlier. In the filing, Wanger characterized his failure to file promptly as “inadvertent.”

Wanger, who was named to Altigen’s board two years ago and serves on both its auditing and compensation committees, manages his own investment firm. He has a law degree from Stanford, received his B.S. in math from the University of Illinois at Urbana-Champaign, is a chartered financial analyst and a member of the California bar.