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> The executives, including the cybersecurity company’s chief security officer, sold through so-called 10b5-1 plans, which are meant to remove any potential to
by nullindividual 2y ago
> The executives, including the cybersecurity company’s chief security officer, sold through so-called 10b5-1 plans, which are meant to remove any potential to benefit from knowledge of material nonpublic information.
Nothing interesting to see here. Move along.
- cempaka 2y ago"meant to" how does that work exactly?
- sturadnidge 2y agoIn a nutshell, the ‘insider’ gives instructions to a broker such as ‘on the 2nd Wednesday of every 3rd month, sell X number of shares if the market price is no less than Y’ and the broker executes on those instructions without any further contact with the insider. The instructions are typically given well in advance of the first sale (and there is typically a schedule of sales rather than one-off sales). So as the GP said… nothing to see here.
- Scaevolus 2y agoAmusingly, you are allowed to cancel any planned trades, so it's a minor barrier to insider trading.