The Ref
Footballguy
This 100%.It looks like it was an automated trade that was set up in advance which is typical for insiders. The question it raises for me is — did they somehow rush that news or knowingly push that out there so their trades could go through at maximum profit? One netted $16m and the other $8m.
In general, I can’t blame insiders for taking profit even if they think the stock will still go up. I am guessing many have 50%+ of their wealth tied up in their own company stock. Ask the Enron folks how that worked out. This case looks fishy in terms of manipulating timing so they could benefit, IMO,
He starred as the CFO of a 2-4B company. That’s a bigger job than I have but it’s not a “big huge enormous” Fortune 500 type job where he is clocking 3-8M a year. My guess is it Doesn’t pay 7 figures a year and even if it came close it would be 25% salary and the rest options. Sure he ain’t broke but my guess is he isn’t a millionaire. Well guess what, now he is.
Don’t get me wrong - better optics would have been to sell half. That said he’s selling at least that. If he didn’t I’d fire him because he’s too stupid to be CFO.
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