'Bad Optics' Or Something More? Moderna Executives' Stock Sales Raise Concerns

[BlueWavePsych]

This discussion thread was locked as off-topic by applegrove (a host of the Latest Breaking News forum).

Source: NPR

Here's what NPR's examination found:

Stock Sales Worth Tens Of Millions: Since June 1, NPR has found, company executives have sold roughly $90 million worth of Moderna stock. Rather than put a hold on the trades after facing intense criticism in May, company executives continued to sell.

Questionable Modifications To Stock Sale Plans: Moderna says its executives pre-scheduled their stock sales long in advance. Those schedules - known as 10b5-1 plans - can act as a defense to charges of insider trading. But the plans have to be put in place when executives do not have confidential inside information. NPR has found multiple executives adopted or modified their plans just before key announcements about the company's vaccine. That has raised questions about whether they were aware of nonpublic information when they planned their stock trades.

Selling To Zero: Generally, corporate best practices suggest that a company's leadership should hold on to at least some stock in their company to have "skin in the game." That way, the thinking goes, an executive has an incentive to improve the company's performance. As Moderna has been developing its coronavirus vaccine, two executives, including the Chief Medical Officer, have sold all their stock holdings in the company. The General Counsel has sold nearly all of her holdings.

Read more: https://www.npr.org/2020/09/04/908305074/bad-optics-or-something-more-moderna-executives-stock-sales-raise-concerns

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Hmmm, sketchy at best.

[SheltieLover]

1. Not a good indication!

[ancianita]

2. I hear from crypto investors that the dollar is on the way out and that I'd better convert mine.

To what, I don't know yet.

[empedocles]

3. Betcha all sorts of 'concerned ceo's'', selling like there is no tomorrow.

[applegrove]

4. LOCKING

Alert: 12 hour rule. The story is from Sept 4th.

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