Unity bosses sold stock days before development fees announcement, raising eyebrows
www.eurogamer.net
Unity executives sold thousands of shares in the weeks leading up to last night's hugely controversial announcement it …
  • Neuromancer@lemm.eeEnglish
    0·
    1 year ago

    I am not a lawyer but I’ve worked with stock as part of my compensation for years.

    Typically you have to schedule your sales on a schedule. Say every 6 months I’ll sell on x date.

    Unless legal tells me to change it. It buys or sells on that date. Period. I can’t adjust it on a whim.

    If he’s following a schedule then there would be no violation.

    If he sold ad hoc, it could be a violation.

    • 4am@lemm.eeEnglish
      2·
      1 year ago

      Could he have timed the announcement around his sales, or would that be something that legal would have to have ensured wasn’t happening?

      If this was ongoing and regular for years then yeah it’s nothing. If there are protections in place to ensure announcements aren’t timed around the schedule then that’s even more nothing (as long as it can be proven that procedure was followed).

      It still seems like a system that can easily be manipulated, but yeah if it’s legal then it’s legal and there really can’t be any punishment regardless of ethics or optics…