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My understanding was that this sort of stock sale blackout is typically an internal thing to avoid insider trading liability, but if you've been laid off, you w

My understanding was that this sort of stock sale blackout is typically an internal thing to avoid insider trading liability, but if you've been laid off, you would no longer be internal and therefore no longer subject to the blackout. Is that not how it's structured here?

onionisafruit 4y ago
That's how it worked last time I left a publicly traded company during a blackout period.
- dmix 4y ago
  How long did it last?
  - onionisafruit 4y ago
    As soon as I resigned I was free to sell shares.
smn1234 4y ago
so all you have to do if you have some great insider tips is to quit your company and exercise your options in some big, gainful ways?
- onionisafruit 4y ago
  You can still be charged with insider trading. You just won't be stopped from making the trade.
cecilpl2 4y ago
You are subject to a blackout when you have material nonpublic information. IME the blackout remains until the opening of the trading window following the end of your employment.
- TheCoelacanth 4y ago
  Most rank-and-file employees don't have material nonpublic information, though. Blackout periods are more of a CYA thing. Once you leave the company, you only have to follow the actual law, not the stricter rules that the company sets for its employees.
- pvarangot 4y ago
  > You are subject to a blackout when you have material nonpublic information. Kinda legally yes, but some mid-sized companies enforce a trading blackout by contract and with a broker-level feature on everyone just so that they don't have to do the work of telling everyone that has that kind of information that they do. Twitter probably does this because of how the LinkedIn thing is worded. The former employees could transfer their shares to another broker and sell them with no issue if they think they are on the good side of the law, which they probably will be after severance.
caseysoftware 4y ago
They're mid-acquisition so the rules are different atm.

onionisafruit 4y ago

That's how it worked last time I left a publicly traded company during a blackout period.

dmix 4y ago
How long did it last?
- onionisafruit 4y ago
  As soon as I resigned I was free to sell shares.

smn1234 4y ago

so all you have to do if you have some great insider tips is to quit your company and exercise your options in some big, gainful ways?

onionisafruit 4y ago
You can still be charged with insider trading. You just won't be stopped from making the trade.

cecilpl2 4y ago

You are subject to a blackout when you have material nonpublic information. IME the blackout remains until the opening of the trading window following the end of your employment.

TheCoelacanth 4y ago
Most rank-and-file employees don't have material nonpublic information, though. Blackout periods are more of a CYA thing. Once you leave the company, you only have to follow the actual law, not the stricter rules that the company sets for its employees.
pvarangot 4y ago
> You are subject to a blackout when you have material nonpublic information. Kinda legally yes, but some mid-sized companies enforce a trading blackout by contract and with a broker-level feature on everyone just so that they don't have to do the work of telling everyone that has that kind of information that they do. Twitter probably does this because of how the LinkedIn thing is worded. The former employees could transfer their shares to another broker and sell them with no issue if they think they are on the good side of the law, which they probably will be after severance.

caseysoftware 4y ago

They're mid-acquisition so the rules are different atm.