The CEO of Robinhood would need to file a public form with the SEC if he wanted to sell any of his shares. People watch that and say "hmmm, why is the CEO of Ro

The CEO of Robinhood would need to file a public form with the SEC if he wanted to sell any of his shares. People watch that and say "hmmm, why is the CEO of Robinhood wanting to sell shares? I wonder what he knows that we don't" and the stock goes down on that information. Stock is absolutely more difficult to liquidate for a CEO.