So he sells a bunch of shares right before the announcement that is likely going to tank their stock price
Yes that appears to be the case…
Pretty sure CEOs need to jump through more hoops to sell their shares like reporting that they plan to sell.
And if they don’t, sometimes they get a slap on the wrist, assuming the money is still within the country. Which it ain’t.
You think they just suddenly came up with this model? No shit they have to jump through hoops. That doesn’t stop them from doing it in advance of something like this
A “bunch” being 2000 when he still owns like 3000x that. This was a quarterly tax sell off that an unethical reporter is using to get clicks.
Hes a dick but this stock selling isn’t nefarious.
Oh the guy who made EA suck is now making Unity suck what a shocker
Like laying down a mighty fart just as the elevator doors close, Unity management abandon the aircraft they were supposed to captain on their golden parachutes. The corporate money making machine continues to chug on.
He sold 2,000 fucking options at $1.43 a piece today. The largest trade he’s ever made was selling 1,899,317 units of Unity Software stock on 4 June 2020 worth over $87,615,493. On average, Mr trades about 193,001 units every 155 days since 2012.
Stop clicking on yahoo finance shit articles. List of his unity sales history: https://wallmine.com/people/85761/john-s-riccitiello
Adding to this: SEC regs for officers in public companies require them to plan and disclose trades well in advance. It’s not exactly my field and I’m way too lazy to research, but it’s probably like one or two quarters in advance. This is to prevent market panic and speculation exactly like the bs in this thread.
Yep, I didn’t bother to include the advance disclosure requirements. Publically traded company employees with insider information are banned from trading on it (theoretically could be anyone but generally just reserved for execs who actually make enough off the dishonesty to be worth going after). Execs can’t even trade in real time as the temptation is obviously too great, they have to make any buy/sell purchases of their own company a quarter in advance.
As they say, trust is built in drops and lost in buckets. This guy is a fucking idiot, even by corporate douchebag standards
I wish I was a well connected idiot 😞
I’m pretty sure every moderately in touch indie developer has removed Unity from their future projects. They’ve entirely lost the trust of the community and probably can’t do anything to earn it back
I too think he is an idiot, but since he likely is not, we have to wonder why he is tanking Unity. Mayne he and Musk are both playing some game where they personally win by destroying a company? I don’t know, but it all seems suspicious.
