I haven't seen this posted yet. All of reddit's C-levels sold $41.245 million worth of stock in the first week of trading.
artichoke @ artichoke @lemmy.world Posts 7Comments 21Joined 2 yr. ago
artichoke @ artichoke @lemmy.world
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First 10 minutes of Dutch GP with driver radios edited in - "10 Minutes That Changed The Race in Zandvoort | 2023 Dutch Grand Prix"
Is there a source for that? Don’t get me wrong, I think reddit is over valued as an unprofitable company but the 80% number smells wrong.
According to the article he sold 500k shares but according the S-1 he was granted 662,447 as a bonus for achieving above a 5B market cap (he did, it was a low target), that’s on top of the 4.6M shares he holds in mixed class A/B.
For someone paid so much in stock it’s not uncommon to want to gain some liquidity and lock in some earnings.
https://www.sec.gov/Archives/edgar/data/1713445/000162828024006294/reddits-1q423.htm