Unity bosses sold stock days before development fees announcement, raising eyebrows
www.eurogamer.net
Unity executives sold thousands of shares in the weeks leading up to last night's hugely controversial announcement it …
  • hayes_@sh.itjust.works
    796·
    1 year ago

    These stories are so dumb/intentionally misleading/outrage bait.

    Executives have predefined stock sale schedules at regular intervals. This allows them to convert their equity to cash and avoid conflicts of interest. That is, it’s hard to gain an advantage over the market when you sell exactly the same amount every month for the next 4 years.

    Where was everyone’s outrage the other 99% of times this guy sold exactly the same amount of stock?

      • hayes_@sh.itjust.works
        10·
        1 year ago

        The point is this is one sale of many.

        Yes, hypothetically the CEO could influence the date an announcement is made for their own personal gain, but it’s not worth it and there will be many more sell events in the future.

        Long run, trying to scheme an announcement to gain more at 1/100 sales isn’t worth it.

        CEO John Riccitiello shifted 2000 shares last week on 6th September, … part of a trend over the past year where the exec has sold more than 50,000 shares in total and bought none.

        This is a drop in his equity bucket and any gains this article implies are due to “insider trading” will disappear in subsequent events.

      • s20@lemmy.ml
        71·
        1 year ago

        Seems like if they wanted to avoid this sort of suspicion, they’d time the announcement for either right before or nowhere near when the scheduled sale would take place.

        But then they wouldn’t get to feel like a Bond villain, so…