My personal take on this is that the company is desperate to seem confident in the future. If the executives sell stock, the employees sell, and suddenly there

My personal take on this is that the company is desperate to seem confident in the future. If the executives sell stock, the employees sell, and suddenly there'd be a large-scale sell-off, I think. My guess would be that the executives are holding onto it to try to infuse some sense of stability for now, but they'll start looking for the exits shortly, and when they leave, they'll liquidate their holdings. I think you're spot on with your analysis, but I think it hurts the image of Twitter executives holding their stock because they're confident that it'll continue to go up.