RE:Window for Chen to sell shares starts March 2022Hi Yasch. I'm pretty sure CEO Chen doesn't start selling on the open market until March 8 and not today.
Yasch22 wrote: To begin with, I think Chen presently controls about 11 million shares. According to CEO.CA, he holds 6m common shares and 2m Performance restricted share units. According to a recent Globe & Mail article, he has also shifted 3m into family trusts.
He plans to sell 2.9m shares on the open market starting today (March 1) and ending February 28, 2023. According to the G&M, "Automatic-sales plans such as these allow company insiders to sell stock without the risk they’ll be accused of illegal insider trading, or selling the shares while knowing of important company news that hasn’t yet been disclosed to the public."
This could cut three different ways:
1. Chen is anticipating a sizeable run-up in shares in 2022 to 2023. He can now legally capitalize on that.
2. He doesn't know if the sp is going up or down, but wants that extra cash in hand for any one of a hundred different reasons.
3. Least plausbile? He's anticipating the possibility of a downturn in the coming year, perhaps due to the threat of inflation and interest rate hikes.
Anyway, just a thought, as Beau of the Fifth Column (YouTube) likes to say.