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☆ Tesla Chairwoman Robyn Denholm has sold over $50 million worth of stock in 2024
▼ + stars: | 2024-05-07 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Tesla Chairwoman Robyn Denholm has just sold $17.3 million worth of her shares in the electric vehicle maker, according to a filing Monday, bringing her total stock sales this year to more than $50 million. Former Tesla Senior Vice President Drew Baglino, who announced his resignation in mid-April, sold shares worth around $181.5 million soon after his departure, according to a filing. In Denholm's early years on the Tesla board, she served on the audit committee. Before joining the Tesla board, Denholm served in executive roles at Sun Microsystems, and in finance roles at Toyota in Australia and at accounting firm Arthur Andersen. In her opinion, Chancellor Kathaleen McCormick wrote that by serving on Tesla's board, Denholm received "life-changing" compensation, which "far exceeded the compensation she received from other sources."

Persons: Robyn Denholm, Tesla, Denholm, Drew Baglino, Kathleen Wilson, Thompson, Elon Musk, hasn't, Musk, Arthur Andersen, —, Chancellor Kathaleen McCormick Organizations: Tesla Inc, American, of Commerce, Tesla, SEC, Sun Microsystems, Toyota Locations: Australia, Sydney, what's, Delaware

☆ Bitcoin evangelist Michael Saylor has made $370 million from MicroStrategy stock sales this year
▼ + stars: | 2024-04-19 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

Michael Saylor, chairman and chief executive officer at MicroStrategy, during an interview at the Bitcoin 2023 conference in Miami Beach, Florida, US, on Thursday, May 18, 2023. MicroStrategy founder and bitcoin evangelist Michael Saylor entered into a stock-sale plan with his company last summer that allowed him to unload up to 400,000 shares in the first four months of 2024. With the plan more than 90% of the way to completion, Saylor has netted about $370 million from this year's stock sales, thanks to the stratospheric rise in value of MicroStrategy, which is effectively a bitcoin holding company. Saylor is the largest MicroStrategy shareholder, with Class B holdings worth about $2.3 billion. At the end of 2023, Saylor owned another 400,000 Class A shares due to an option he received in 2014.

Persons: Michael Saylor, Saylor, MicroStrategy, unexercised Organizations: CNBC Locations: Miami Beach , Florida

Cadre Holdings CEO Warren Kanders sold $50.3 million worth of stock. Ares Management CEO Michael Arougheti sold $32.7 million worth of stock. Cadence Design Systems CEO Anirudh Devgan sold $14.7 million worth of stock. AppLovin CFO Herald Chen sold about $9.5 million worth of stock. Cleanspark CEO Zachary Bradford sold nearly $9 million worth of stock.

Persons: Michael Dell, Verity Data, Mark Zuckerberg, Chan Zuckerberg, Zuckerberg, Priscilla Chan, Warren Kanders, Kanders, Jayshree Ullal, Michael Arougheti, Sytse Sijbrandij, Sijbrandij, Anirudh Devgan, Aneel Zaman, Herald Chen, Zachary Bradford Organizations: Dell Technologies, Dell, DELL, Securities and Exchange Commission, Chan Zuckerberg Initiative, Facebook, Cadre, VerityData, Arista Networks, Ares Management, Cadence Design, Herald Locations: 10b5

Corporate executives at major companies have sold stock in their own companies in March as the stock market hits new record highs. Zuckerberg's moves appear to be part of a 10b5-1 stock sale plan adopted last summer. An even larger stock sale came from Michael Dell, the CEO and namesake of Dell Technologies . The tech founder has filed a Form 144 to sell 7 million shares, so more transactions could be coming, according to VerityData. Dell shares have soared more than 50% this year on optimism the AI boom will lead to a replenishment of servers and PCs.

Persons: Mark Zuckerberg, Michael Dell, Alesia Haas, Zuckerberg, Haas, Troendle, William Hickey III, James Walter, TechnipFMC, Douglas Pferdehirt, William Meaney Organizations: Facebook, Dell Technologies, Dell, Medpace Holdings Locations: —, 10b5

☆ Tech insiders are cashing out during the AI-fueled stock rally
▼ + stars: | 2024-03-06 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Nvidia Nvidia is the leader of the pack with shares surging more than 70% year to date, following a nearly 240% advance last year. A number of directors at the company sold shares in late February amid the fierce rally. NVDA 1Y mountain Nvidia Nvidia has been the primary beneficiary of the recent technology industry obsession with large artificial intelligence models, which are developed on the company's pricey graphics processors for servers. Meta Platforms Meta CEO Mark Zuckerberg trimmed his stake in separate sales over the past week. Satya Nadella (CEO) sold 1,300 shares on March 1 Bradford L. Smith (vice chair and president) sold 48,300 shares in early February.

Persons: Mark Stevens, Michael McCaffery, Mark Perry, Harvey Jones, Mark Zuckerberg, Zuckerberg, Meta's, Sherman Tuan, George Kao, Don Clegg, Lisa Su, Darla M, Smith, Mark Papermaster, Satya Nadella Organizations: Nvidia, Nvidia Nvidia, Microsoft, Whirlpool, AMD, Microsoft Microsoft, Bradford, Amazon Web Services

☆ Charter to pay $25 million for stock buyback controls violations, SEC says
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

Charter said in a statement that it fully cooperated with the SEC's inquiry and that its share repurchase plans were well-documented and disclosed in financial statements. "We remain committed to a share buyback program and our previously stated leverage targets," the company said. U.S. regulators have ratcheted up scrutiny of rearranged stock trading programs, known as 10b5-1 plans, in the face of criticism from lawmakers and others. The SEC last year overhauled the rules for such plans to deter insiders from trading on material information that investors do not have. Reporting by Chris Prentice in New York and Jasper Ward in Washington; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Prentice, Jasper Ward, Bill Berkrot Organizations: Communications, WASHINGTON, SEC, U.S, Securities, Exchange Commission, Thomson Locations: U.S, New York, Washington

☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

☆ JPMorgan Chase stock slips after bank says CEO Jamie Dimon is selling 1 million shares
▼ + stars: | 2023-10-27 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

JPMorgan Chase CEO Jamie Dimon will begin to sell one million shares of the bank he runs next year, the company said Friday in a filing. He has also spent his own money snapping up JPMorgan shares in the past. Shares of the bank slipped 2.5% in morning trading, worse than the 0.8% decline of the KBW Bank Index. Starting in 2024 they currently intend to sell 1 million shares, subject to the terms of a stock trading plan. Mr. Dimon will use stock trading plans to sell his shares, in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934.

Persons: Jamie Dimon, Dimon, Wells, Mike Mayo, Mayo, Dimon's Organizations: JPMorgan, KBW, New, Securities, Exchange Locations: New York

☆ Tim Cook dumps a chunk of Apple shares this week in his biggest scheduled sale in 2 years
▼ + stars: | 2023-10-04 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Apple CEO Tim Cook shed a chunk of shares in his tech giant during this week's market turmoil, making his biggest scheduled sale in two years. Cook dumped about 511,000 Apple shares in separate sales in the past three days through a 10b5-1 plan, which allows insiders to sell shares under a prearranged structure, according to a regulatory filing . Cook's action happens to fall in a week where the stock market was rattled by surging bond yields. AAPL YTD mountain Apple Shares of Apple fell 0.8% on Tuesday, but they are still positive for the week. The company also reduced the number of restricted stock units Cook would receive if he retires before 2026.

Persons: Tim Cook, Cook Organizations: Apple, Treasury Locations: InsiderScore

☆ Bowlero, the public company that reimagined bowling, faces dozens of discrimination claims that the feds want to settle for $60 million
▼ + stars: | 2023-05-11 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +19 min

The 73 EEOC claims brought by individual former employees against the company sparked the larger pattern or practice investigation into age discrimination. Only a fraction of EEOC age discrimination complaints — 2.8% in fiscal 2021 — resulted in reasonable cause determinations, EEOC data show. It went from running six bowling alleys to 272 overnight after it acquired AMF, which was then the largest bowling company in the world and was in bankruptcy. The following year, Shannon's company acquired the Brunswick Corporation, the second-largest bowling company in the world, and changed his company's name to Bowlero. Dowe said negotiations fell apart when Bowlero countered the EEOC's $60 million settlement proposal with a proposal of $500,000.

Several regional banks saw insiders buy shares over the past seven days, according to VerityData. Insider buying is tracked by some professional investors as a potential sign of company quality. Here are the five U.S. companies with the biggest insider buying over the past week, according to VerityData. Buying the dip was a theme of all of the top five insider buying companies. See more about Insider Buying on CNBC's " Last Call ," weekdays at 7 p.m.

☆ GC Agenda: May 2023
▼ + stars: | 2023-05-01 | by ( Practical Law The Journal | ) www.reuters.com time to read: +23 min

Clawback Listing StandardsPublic companies should be aware that proposed NYSE and Nasdaq clawback listing standards may be in place earlier than expected. Organizations may use biometric data in a variety of ways, including when:tracking employee time; restricting access to physical and digital assets; monitoring consumer shopping behavior; and integrating biometric data into consumer products and services. Consider whether the organization’s current policies and procedures meet applicable biometric data handling requirements, including notice, consent, retention, storage, and security obligations. Review applicable laws and obligations when contracting with service providers that handle biometric data and continuously monitor their performance. In February 2023, the NYSE and Nasdaq filed proposed new listing standards, which contemplated that they could become effective as early as April 27, 2023.

☆ Executives at Silicon Valley Bank and First Republic Bank sold millions of stock right before the crash
▼ + stars: | 2023-03-17 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Executives at First Republic Bank and Silicon Valley Bank sold stock right before the banking crisis. First Republic's chief risk officer sold shares two days before the Silicon Valley Bank implosion. Today, SVB stock remains halted but is essentially at zero after Silicon Valley Bank was taken over by the FDIC and SVB Financial filed for bankruptcy. First Republic Bank executives also managed to sell stock right before the crash. All-in, insiders at First Republic Bank sold about $12 million in stock in 2023 at an average price of just below $130 per share.

☆ SEC and Justice Department reportedly investigating SVB's collapse, including insider stock sales
▼ + stars: | 2023-03-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

People queue up outside the headquarters of Silicon Valley Bank to withdraw their funds on March 13, 2023 in Santa Clara, California. The Securities and Exchange Commission and the Justice Department are investigating how Silicon Valley Bank became the second largest bank failure in U.S. history, the Wall Street Journal reported Tuesday. In addition to backstopping the deposits at SVB and Signature Bank, federal regulators also announced an additional funding facility for troubled banks. Daniel Beck, CFO of SVB, sold 2,000 shares of SVB Financial on Feb. 27, the same day that CEO Gregory Becker exercised options on 12,451 shares and sold them, regulatory filings showed. CNBC reported Monday that regulators could make a second attempt to sell the failed SVB after the auction over the weekend led nowhere.

☆ Ontrak CEO Peizer resigns after being charged for insider trading
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

Companies Ontrak Inc FollowMarch 3 (Reuters) - Health care company Ontrak Inc's (OTRK.O) Chief Executive Officer Terren Peizer resigned on March 2, the company said in a filing, a day after U.S. authorities charged him with insider trading. Peizer sold more than $20 million of Ontrak stock between May and August 2021 while in possession of material non-public negative information related to the company's largest customer, authorities said. The charge marks the first criminal case involving the use of a special trading plan designed to help shield executives from such charges. Executives can use trading plans under rule 10b5-1 as a defense against insider trading charges by planning to sell shares in advance at predetermined times. Brandon LaVerne, who has been the company's chief operating officer since 2022, will be the interim chief executive.

In a statement, U.S. Assistant Attorney General Kenneth Polite called the charges a "groundbreaking" effort to prevent the misuse of so-called 10b5-1 trading plans. The U.S. Securities and Exchange Commission also announced civil insider trading charges against Peizer in a parallel action. Executives can use trading plans under rule 10b5-1 as a defense against insider trading charges by planning to sell shares in advance at predetermined times. In a recent case, the SEC in September charged Cheetah Mobile Inc's (0C9y.F) CEO and its former president with insider trading in connection with a trading plan. The SEC in December voted to make changes to the insider trading programs to address concerns over abuse.

☆ New SEC Rules Target Corporate Insider Trading
▼ + stars: | 2023-02-13 | by ( Jonathan Weil | ) www.wsj.com time to read: 1 min

The SEC’s new disclosure requirements will start on April 1 for most U.S.-listed companies. For the last two decades, officers and directors at U.S. public companies seeking to trade illicitly on inside information had an almost infallible get-out-of-jail-free card. All they had to do was use prearranged trading plans when they bought and sold their companies’ shares. The odds the government would target them for enforcement actions were slim. It was an unintended consequence of a 2002 regulation called Rule 10b5-1 that academic research shows was abused by some executives.

☆ Elon Musk must do these 10 things to turn Tesla stock around in 2023, says Wedbush's Dan Ives
▼ + stars: | 2022-12-29 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

Wedbush's Dan Ives listed 10 steps for Elon Musk to take to turn Tesla stock around in the new year. Among the steps are naming a new CEO of Twitter by the end of January and Tesla stock buybacks. "The 50% growth target is not happening in our opinion, with 35%+ delivery growth a more hittable and realistic goal for 2023." Issue a Tesla stock buyback. "Right now very simply the fear is Twitter is bleeding money with advertisers fleeing (for now) which means more losses and therefore more Musk TSLA stock sales.

☆ SEC Chair Gary Gensler tees up changes to how the stock market operates
▼ + stars: | 2022-12-13 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

These wholesalers may send the orders to exchanges, but often match the orders against their own internal order flow. However, Gensler has claimed that pension funds and other institutional investors are not able to interact with that retail order flow. Execution quality disclosure Market participants are required to submit monthly reports indicating how well they are executing client orders. Gensler has said investors today need a better understanding of how well their trading orders are being executed. Gensler's broad agenda The proposals on market structure are part of a broad agenda Gensler has undertaken this year.

☆ Stocks could get a lift from this huge buying force in the fourth quarter
▼ + stars: | 2022-10-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Buybacks are expected to come in full force in the fourth quarter, poised to give the volatile stock market a big boost. Publicly traded companies have a policy that restricts trading in their own shares beginning two weeks prior to the quarter end, through 48 hours after earnings are publicly released. Most of the current buybacks are executed through Rule 10b5-1, which allows companies to set up a predetermined plan to buy back stock. Buybacks have been a popular way for companies to return cash to shareholders, competing with dividends. Corporate America also uses share repurchases to improve earnings per share, since buybacks reduce the share count.

☆ Acţiuni de 5,6 milioane de dolari, vândute de șeful Pfizer într-o zi
▼ + stars: | 2019-01-01 | by ( Știri Din Moldova | ) stiri.md time to read: +3 min

Bourla a vândut 132.508 acţiuni la un preţ mediu de 41,94 dolari pe acţiune, în valoare de aproape 5,6 milioane dolari, conform documentelor depuse la autoritate de reglementare. “După o prezenţă de peste 25 de ani în companie, Albert deţine o cantitate substanţială de acţiuni Pfizer în cadrul planurilor noastre de economii calificate şi necalificate. ”Acum deţine de nouă ori salariul său în acţiuni Pfizer, după vânzarea săptămâna aceasta”, a declarat un purtător de cuvânt al Pfizer într-o declaraţie. De nouă ori acel salariu ar reprezenta acţiuni în valoare de aproximativ 15 milioane de dolari. Pfizer a participat la Operaţiunea Warp Speed acceptând bani pentru achiziţionarea şi distribuirea dozelor de vaccin, dar finanţarea federală nu s-a îndreptat spre dezvoltarea vaccinului.

Persons: Albert Bourla, Bourla, Pfizer, Albert deţine, Jay Clayton Organizations: Black, Moderna Locations: Germania, acţiunile, SUA

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