I DON'T KNOW MY SHARE PRICE

2022-02-10 08:35

BlackBerry chief executive officer John Chen plans to sell about a third of his shares in the company over the coming year, worth about $22-million (U.S.) at current prices. The Globe's David Milstead writes that his sales plan is aided by last year's meme stock craze, which pushed BlackBerry's share price temporarily higher. That triggered the performance target for Mr. Chen's 2018 grant of shares and opened the door for him to sell part of his holdings. Mr. Chen's trading plan, developed to comply with U.S. and Canadian securities laws, starts in March and is planned to end in February, 2023. The arm's-length plan allows Mr. Chen to sell up to 2.9 million shares of BlackBerry, but he has no discretion over when the shares are sold once the plan starts. The plan has a formula with minimum price thresholds for sales. If he wants to change the plan or end it, he must give 30 days notice. Automatic-sales plans such as these allow company insiders to sell stock without the risk they will be accused of illegal insider trading. Despite the stock's ho-hum performance, Mr. Chen has already made $96.5-million (U.S.) from selling about 10.8 million BlackBerry shares.

2022-04-27 VALUATION OF 2.9M SHARES @ CLOSE $16.24M DOWN $5.75M 26.2%

BlackBerry shareholders like prisoners to the King of BlackBerry, feckless BoD


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Jon Stewart gets it right except many might include arrogant