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SEC Poised to Seek Enforcement Action Barring Musk from Holding Exec Positions

• techostritch 2y ago
  In the “funniest outcome is also the likeliest” I think Musk would agree it would be pretty hilarious if he was removed from Tesla after winning his $48 billion dollar pay package, and that it tanked the Tesla stock making his pay package next to worthless.
• aeternum 2y ago
  It's ridiculous that congress gets to wait 45 days but normal citizens get only 10 days. It's bad enough that they can insider trade, even worse that they wait longer than regular citizens when it comes to disclosure like this. It'd be pretty hilarious if Elon simply changes his title to something like C(not E)O and nothing of substance changes. Shareholders would clearly support it if needed.
  • ksherlock 2y ago
    "Normal citizens" don't have to file anything. The 45-day congress filing requirement is part of the STOCK Act (previously it was once per year) and is unrelated to SEC regulations. 13-D and the 10-day filing timeline only applies to beneficial ownership of 5% or more. That would apply to members of congress, if they hit that threshold, which normal people don't.