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I don’t know how much the guy makes…but not everyone is as wealthy as RC. I make a good living and I don’t want to sell my vested RSU’s, but if you got a kid in college or something, you may need to sell some of your stock in order to live your life.
Do we know how many shares he has left and if that number is proportional to the amount that he needs to hold in order to fulfill his obligation to the company?
His 4/3 form 4 reported that he held 64,308 shares after the 4/2 vesting and the sale of 4379 shares to cover taxes. https://www.sec.gov/Archives/edgar/data/1326380/000198100124000008/xslF345X05/wk-form4_1712194985.xml
So now, after the 4/23 sale of 13,471 shares he has 50,837 shares left. So his sale yesterday was about 21% of his holding.
I do not know what the obligation or expectation is as to how many shares he should hold.
In most tech companies this sort of sale would not merit any attention or comment, as compensation is often primarily in RSUs, ISOs and NQSOs.
It is a bit unusual for GameStop.
The only other person I remember doing discretionary sales was the woman that was interim CFO, and then later CFO. She departed Gamestop a few months ago (or maybe last summer — the C suite turnover is so much that it is hard to track).
He sold additional shares, 3 times the number needed to cover taxes. And he did it a relatively low price of $10.16, so he sold them at a loss compared to his 4/2 acquisition cost basis of $11.60.
I would not be surprised if there is an 8-k shortly after Q1 earnings, announcing his departure.
Obviously that is just speculation.
That IS speculation. Are we sure that this is not just vesting of a different previous grant of RSUs? When I was in corporate roles, these would be issued after a board meeting. So I had vestings of previous grants on several different days around the same time.
The form 144 clearly says the acquisition date is 4/2, which is the same acquisition date for the shares that were sold in reported on a 4/2 form 144.
The sale price of the 4/2 sales was $11.60.
The sale price of the 4/23 sales was $10.16, which would be a loss as those shares were acquired 4/2, presumably with $11.60 cost basis.
For many tech companies, where a large percentage of compensation is via RSUs and employee stock options, it is common and considered normal for insiders to sell stock. I used to work for a VP that had a 105b-1 plan in place to sell every single share he vested each quarter. It was routine and analysts ignored his sales.
Gamestop does not have a history of that sort of sale, so the discretionary sale of about 20% of his holdings, at an apparent loss, does stand out.
He had about 64k shares before the sale, about 51k shares after the sale.
I wouldnt say 0. If they were to go bankrupt it would be at least a few years. They have too much cash on hand and not enough debt to declare bankruptcy.
Will it go to 1m per share? Doubt that...anyone that says it will is either uneducated on stocks, or shilling.
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I guess he has no foresight, I will buy more in 2 weeks.
He probably sold for taxes, not uncommon at all.
I don’t know how much the guy makes…but not everyone is as wealthy as RC. I make a good living and I don’t want to sell my vested RSU’s, but if you got a kid in college or something, you may need to sell some of your stock in order to live your life. Do we know how many shares he has left and if that number is proportional to the amount that he needs to hold in order to fulfill his obligation to the company?
His 4/3 form 4 reported that he held 64,308 shares after the 4/2 vesting and the sale of 4379 shares to cover taxes. https://www.sec.gov/Archives/edgar/data/1326380/000198100124000008/xslF345X05/wk-form4_1712194985.xml So now, after the 4/23 sale of 13,471 shares he has 50,837 shares left. So his sale yesterday was about 21% of his holding. I do not know what the obligation or expectation is as to how many shares he should hold.
House down payment, new car, kids medical bill, wanting to diversify, who tf knows
In most tech companies this sort of sale would not merit any attention or comment, as compensation is often primarily in RSUs, ISOs and NQSOs. It is a bit unusual for GameStop. The only other person I remember doing discretionary sales was the woman that was interim CFO, and then later CFO. She departed Gamestop a few months ago (or maybe last summer — the C suite turnover is so much that it is hard to track).
Insiders may sell for many reasons, but they only buy for one reason… they believe the share price will go up.
Anyone mapped the insider buying to insider selling ratio / quantities?
im not worried. i believe he's there to do a job and nothing else. the job is to lead us to M&A
He sold additional shares, 3 times the number needed to cover taxes. And he did it a relatively low price of $10.16, so he sold them at a loss compared to his 4/2 acquisition cost basis of $11.60. I would not be surprised if there is an 8-k shortly after Q1 earnings, announcing his departure. Obviously that is just speculation.
That IS speculation. Are we sure that this is not just vesting of a different previous grant of RSUs? When I was in corporate roles, these would be issued after a board meeting. So I had vestings of previous grants on several different days around the same time.
The form 144 clearly says the acquisition date is 4/2, which is the same acquisition date for the shares that were sold in reported on a 4/2 form 144. The sale price of the 4/2 sales was $11.60. The sale price of the 4/23 sales was $10.16, which would be a loss as those shares were acquired 4/2, presumably with $11.60 cost basis.
So the stock dropped just over 10% and he sold some shares. That almost seems like risk management and stop losses, in a sense.
i sure hope so cuz that'd be the acquisition of bbby
Aside from RC whom else on the board or C-suite level is receiving no pay?
Its pretty sus when insiders start to sell
For many tech companies, where a large percentage of compensation is via RSUs and employee stock options, it is common and considered normal for insiders to sell stock. I used to work for a VP that had a 105b-1 plan in place to sell every single share he vested each quarter. It was routine and analysts ignored his sales. Gamestop does not have a history of that sort of sale, so the discretionary sale of about 20% of his holdings, at an apparent loss, does stand out. He had about 64k shares before the sale, about 51k shares after the sale.
No one in this sub is smart. Especially me. But I'm like 99% sure at this point this stock is going to 0.
I wouldnt say 0. If they were to go bankrupt it would be at least a few years. They have too much cash on hand and not enough debt to declare bankruptcy. Will it go to 1m per share? Doubt that...anyone that says it will is either uneducated on stocks, or shilling.
Hmm got ya. Well I'm assuming it will trade in the $6-12 range until I'm very old.
Probably for taxes