Unity Software Inc's President and CEO John Riccitiello Sells 2,000 Shares

shish_mish@lemmy.world to Technology@lemmy.world – 381 points –
Unity Software Inc's President and CEO John Riccitiello Sells 2,000 Shares
finance.yahoo.com
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We should come up with a name for such an act

We should make it illegal too!

It actually is. The insider sells have to be announced well in advance.

Makes it easier for executives to plan when to make announcements like this.

So he scheduled selling 2,000 shares 3 months ago. Then made the announcement a few days after the sales clear. Easily planned for on this type of announcement.

They also do the same thing for positive news that will increase the stock prices. Announce it a few days before their scheduled sale.

Creating a routine selling/buying schedule that coincides with expected announcement periods is pretty easy.