alt Hacker NewsNothing out of the ordinary. Guy sold 4m shares over a few months (all of which have to be pre-announced 90 days in advance). Still has over 25m shares.
Replies
red_trumpet • today at 5:47 AM
The article says there were no trading plans used, so it's not clear to me whether selling was announced 90 days in advance. Where would I find the announcement?
SpicyLemonZest • today at 6:13 AM
It's generally considered unwise for executives to sell any shares at all except according to a preannounced 10b5-1 plan, but it's not required and he doesn't seem to have done so here. (You're right, of course, that there a lot of legitimate reasons he might have wanted to diversify 20% of his shares without waiting 90 days.)
They can influence timing of information release; Whether delaying or expediting.
Just pointing out that even with the notice there is still room for shenanigans.