Just want to add you’re right but what pisses me off is that they still can influence decisions based on this. Let’s say his shares are sold at x day, just do some decisions before that and boom your auto sell share price is now either higher or lower. Only because it’s predetermined they still influence it and SEC now can’t do shit.
This has nothing in common with insider trading and doesn’t resemble it in any way. The shares he sold weren’t a relevant proportion of his ownership. He didn’t sell then deliberately tank them. He sold then announced something he thought would improve the value of his big stake in the company. The decision almost definitely cost him a lot of money by substantially lowering the trajectory of his company’s ability to maintain market share.
Just want to add you’re right but what pisses me off is that they still can influence decisions based on this. Let’s say his shares are sold at x day, just do some decisions before that and boom your auto sell share price is now either higher or lower. Only because it’s predetermined they still influence it and SEC now can’t do shit.
This has nothing in common with insider trading and doesn’t resemble it in any way. The shares he sold weren’t a relevant proportion of his ownership. He didn’t sell then deliberately tank them. He sold then announced something he thought would improve the value of his big stake in the company. The decision almost definitely cost him a lot of money by substantially lowering the trajectory of his company’s ability to maintain market share.