5 ms·
Probably not a good image that Scott[1] and Mike[2] (via their respective trusts) have been quite busy liquidating 1,076,750 shares each into the public at a ra
by metaphor 4y ago
Probably not a good image that Scott[1] and Mike[2] (via their respective trusts) have been quite busy liquidating 1,076,750 shares each into the public at a rate of 8,614 shares per trading day since the beginning of October last year...all the while laying off 5% of their workforce.
Something about leaders eating last comes to mind...
[1] https://www.sec.gov/edgar/browse/?CIK=0001666121 https://www.sec.gov/edgar/browse/?CIK=0001666121
[2] https://www.sec.gov/edgar/browse/?CIK=0001666120 https://www.sec.gov/edgar/browse/?CIK=0001666120
- cjrp 4y agoAbout $1.5m/trading day, at current prices.
- yunohn 4y agoHow is this legal? Why are there always different rules for the managerial/ruling class…
- newaccount2021 4y agowhy would it be illegal?
- throwayyy479087 4y agoThis is the opposite of what you think - look into 10b-5.
- xhkkffbf 4y agoThe different rules for the leaders are actually stricter. The average worker gets secrecy and they can sell all at once. The leadership needs to set up a public plan and commit to it.
- mailinator-195 4y agothis is actually due to Rule 10b5-1 where execs can have a pre-planned schedule to have transactions get executed. this way they're not doing any insider trading since it's predefined months in advance. https://www.investopedia.com/terms/r/rule-10b5-1.asp https://www.investopedia.com/terms/r/rule-10b5-1.asp
- haskellandchill 4y agoa chunk of our executive team is resigning, that's how it should be done
- umeshunni 4y agowhich chunk? source?
- haskellandchill 4y agoVP Eng, CFO, VP client sales, VP customer success, numerous other Sr Dirs and Sr Mngrs and source is me I work at 300 person-ish company I'm talking about.
- umeshunni 4y agoAh sorry - I thought you were at Atlassian and that you were saying that a chunk of Atlassian's executive team is resigning