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MicroStrategy director quietly dumps all his MSTR sharesprotos.com/microstrategy-director-quietly-dumps-all-his-mstr-shares/
444 sats \ 5 comments \ @0xbitcoiner 13 Jun Stacker_Stocks
This month, MicroStrategy (MSTR) Director Carl Rickertsen sold all of his shares for a little over $10 million.
Rickertsen hasn’t made any purchases of MSTR this year that met Securities and Exchange Commission (SEC) reporting requirements, and he has traded in only one, decidedly bearish direction.
He has, however, bought MSTR stock in previous years. Indeed, in 2022, he invested $700,000 in the company.
According to legendary stock analyst Peter Lynch, “Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.” And since 2022, the price of MSTR has clearly risen.
Rickertsen bought $608,000 of MSTR on June 13, 2022. As of today, MSTR has rallied 152% from his $152-per-share purchase.
Ever the opportunist, however, Rickertsen didn’t wait until today to sell that purchase. Indeed, he sold half of his 4,000-share position in 2023.
...read more at protos.com
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33 sats \ 2 replies \ @k00b 13 Jun
Director of what? Directors at most companies are mid level. Unless he’s one of the six working on the treasury company, it’s not news imo. He’s just the biggest seller because none of the head guys sold.
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111 sats \ 1 reply \ @0xbitcoiner OP 13 Jun
Mr. Rickertsen has been a member of the Board since October 2002. Mr. Rickertsen is currently managing partner of Pine Creek Partners LLC and Iris Partners LLC, each a private equity investment firm, positions he has held since January 2004.
[...]
https://www.strategy.com/investor-relations/board-of-directors/carl-rickertsen
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133 sats \ 0 replies \ @k00b 13 Jun
Ah this is usually called “board member”
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33 sats \ 0 replies \ @BlokchainB 13 Jun
👀👀
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33 sats \ 0 replies \ @justin_shocknet 13 Jun
CEO is more interesting
President and CEO Phong Le paid $382,500 for 4,500 of the preferred MicroStrategy shares. Le also sold 5,295 common shares on June 6 through a so-called Rule 10b5-1 trading plan for $2 million, or $374.54 each.
He's not the only one, selling common and rolling into preferred, I'd assume any delta is tax covering
https://www.barrons.com/articles/bitcoin-microstrategy-stock-buy-13d243c2
Important note on how these executions work:
Insiders use such plans to remove the appearance of bias from the knowledge of nonpublic information. The plans automatically execute trades when preset conditions, such as price, volume, and timing, are met.
I'm not sure how margin rules work at these levels but that's another reason to assume nothing about insider sales, at this level your personal lifestyle liquidity can generally come from margin lending and not asset sales.
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