this post was submitted on 14 Sep 2023
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The Unity Games That Could be Impacted Most by Controversial Fees, From Silksong to Cult of the Lamb - IGN (www.ign.com)
submitted 2 years ago by shish_mish@lemmy.world to c/technology@lemmy.world
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[–] Heavybell@lemmy.world 13 points 2 years ago (1 children)

The CEO did sell a bunch of shares before this was announced, I hear.

[–] KillAllPoorPeople@lemmy.world 5 points 2 years ago (2 children)

That's clickbait journalism.

He sold 2000 shares for $40/share, which he then immediately bought back for $1.42/share.

https://finance.yahoo.com/screener/insider/RICCITIELLO%20JOHN%20S

[–] EonNShadow@pawb.social 23 points 2 years ago (2 children)

Which means he sold at the top, then bought more at the bottom so he can ride the train back up to do the same thing again.

This isn't a good thing.

[–] nilloc@discuss.tchncs.de 9 points 2 years ago* (last edited 2 years ago) (1 children)

Pretty much the dream insider trading plan. But $80k doesn’t deem like much for a CEO

[–] KillAllPoorPeople@lemmy.world 5 points 2 years ago

It's definitely not. It's probably just a free $80k his contract allowed him to get.

[–] KillAllPoorPeople@lemmy.world 3 points 2 years ago (1 children)

It was probably part of his contract. It wasn't $40 when he sold it. As probably allowed by his contract, he sold it back to the company and bought it back for pennies. It's just compensation not some conspiracy on his individual part.

[–] dragonflyteaparty@lemmy.world 2 points 2 years ago (1 children)

What you said doesn't make any sense. Either it wasn't $40 a share when he sold it like you said in this comment or it was $40 a share like you said in the previous comment.

[–] KillAllPoorPeople@lemmy.world 1 points 2 years ago* (last edited 2 years ago)

I guarantee you his contract looks like something like this, "If you meet X performance metric, the company will buy N amount of shares (maximum 2000) back at the maximum/average stock price within Y days and sell you back the amount of shares sold (maximum 2000) for Z dollars."

[–] BreakDecks@lemmy.ml 3 points 2 years ago

You're describing something worse.