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GM Finance used to have a deal where they'd virtually sell your locked-out shares in anticipation of a market bump after the lockout. Is that still a thing?
by JoeAltmaier 4y ago
GM Finance used to have a deal where they'd virtually sell your locked-out shares in anticipation of a market bump after the lockout. Is that still a thing?
- metadat 4y agoAny more details or references you can provide about this?
- skissane 4y agoI don't know what they are talking about specifically, but 17 CFR 240.10b5 1(c)(1) allows insiders to adopt "trading plans". This is basically where you give someone else binding instructions ahead of time on how to trade (e.g. sell X units when price reaches $Y) – trades made under such a plan can be exempted from "no trade" periods around results time and major announcements. I think most US publicly listed firms use them, but usually only for senior executives; I don't think there is any reason in principle why a firm couldn't make them available to all employees.