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33 sats \ 0 replies \ @justin_shocknet 13 Jun \ on: MicroStrategy director quietly dumps all his MSTR shares Stacker_Stocks
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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