Unity Bosses Sold Stock Ahead Of Scummy Dev Fees Announcement
Unity Bosses Sold Stock Ahead Of Scummy Dev Fees Announcement
CEO John Riccitiello sold 2,000 shares a week before Unity revealed its Runtime Fee
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How is this not insider trading?
Because it's scheduled. He probably just has a "sell all of my stock bonuses as I receive them" order to his broker. If he doesn't actually get involved in the day-to-day decision making of his stock portfolio, then there's no special knowledge involved in the sale.
he didn't have control over the trades, but he controlled the timing of the announcement entirely.
they knew since june (when the TOS was edited), but waited until last week to drop their stinker of a plan after everyone had already cashed out what they wanted to.
almightysnoo above posted this, which I think is revealing:
Chief among them being Tomer Bar-Zeev, Unity’s president of growth, who sold 37,500 shares on September 1 for roughly $1,406,250, and board director Shlomo Dovrat, who sold 68,454 shares on August 30 for around $2,576,608.
That makes sense. Thought there would be a reasonable explanation for it.