this post was submitted on 14 Sep 2023
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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.
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.
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."