In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00
13 replies (most recent on top)
D-mb comment. One more person who should not be working here lol. He's just exercising his expiring options. Educate yourselves a little more about executive compensation.
Fine print. Exercise was from a 10b5-1 plan. Months or years in advance, execs give up all control over timing of exercise to avoid insider trading perceptions. Read up on them. Market knows this which is why nothing moved when transaction was disclosed.
OP is a mo--n! Excecutives excersie their options every year (well every year that the current proce is higher than the option price). That is a major partof their normal everyday compensation. Nothing to see here, move along.
My question is should I sell some cvx too?
Maybe let’s change the perspective a bit. Is it also a need to announce the reorg bad news only after exercising the options that were about to expire? We can all agree there were better time to announce the reorg. Such as the ENGINE and the head quarter move announcement so EB didn’t have to threat San Ramon folks to resign without severance package if they choose not to relocate. I don’t understand the goal of this piecemeal gas lighting
For all those "he had to sell" pollyannas, realize that executive stock options are structured so they have that massive yearly income stream.
A CEO that puts his wealth before his employees. Stock buy backs. Loans for dividends. Massive layoffs. Offshoring. Sounds a CEO that should consider UHC
Had to exercise his options and he did NOT make $26mm on the sale. It's an option, so he's paid out on the difference between the price when he received them and when he sold.
If you are going to make this type of post at least get the facts straight.
need to excise is a very common excuse for the selling. every ceo uses it…
good point, cash out then slash budget and tell employees the company is going broke, weeks apart
I know dufus, still ran the stock up before he sold, not announce chevron su-ks. Do your research
He had to. Should probably do a little research on things before making bold comments.
need to exercise his stock options before they expire bro