...and then the stock drops. How is that legal? And even if it is, it dastardly.
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FYI, while it looks fishy, I found this:
https://seekingalpha.com/news/4466995-oracle-ceo-safra-catz-leads-insider-selling-with-2_5b-in-stock-sales
Catz’s Q2 sales, executed under a predetermined trading plan, coincided with a late-quarter market rebound following trade-related volatility. Oracle (NYSE:ORCL) granted her an additional 5 million options in June, which she exercised and sold alongside others nearing expiration.
Google AI said this, but I don't have the interest to track it down:
Specifically, the sales were executed pursuant to a Rule 10b5-1 plan established on September 25, 2024, according to one Form 4 filing. You can access these filings through the SEC's EDGAR database.
Most executives have a set plan for stock sales, so that they happen regularly. Or they sometimes have a blind trust doing the management of the stock. Since the top execs are always in possession of insider information, it's the only way they could sell stock without being accused of insider trading. It can always look suspicious though. You'd need to look up whether they've been selling stock on a regular basis beforehand.
And then there will be an employee survey which we will be asked to fill in. And always a big thank you note- "employees are our pillars".
@ay you are right, it's just offensive and disgusting.
They do it all the time—and the securities commission knows it. Yet they consistently turn a blind eye.
It’s important to understand that the people who make the laws are often the same people who own stocks, are friends with those who do, or benefit directly from the system. It’s a mutual benefit, not a conflict of interest.
Anyone who still believes that justice is blind might want to schedule an appointment with an optometrist.