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Is this not an action that commonly is prepared months in advance?
by pubkraal 6y ago
Is this not an action that commonly is prepared months in advance?
- elliekelly 6y agoYes, footnote 1 says the transactions were effected pursuant to a 10b5-1 plan.
- mywittyname 6y agoYes. From the looks of it, the CEO is just selling a previously-negotiated award on the date of acquisition. He has been awarded, then immediately sells roughly 70,000 shares a day over two days, along with exercising some options. Table II shows that he still (indirectly) owns around 24 million shares of Class B stock and 130k options. This is a nothingburger.
- zerocrates 6y agoThe filing notes that these trades are following a 10b5-1 plan, which is basically exactly that: you set up trades in advance so that you can make them without falling afoul of the insider trading rules.