Technology

59466 readers

3684 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

553

Unity Bosses Sold Stock Ahead Of Scummy Dev Fees Announcement (kotaku.com)

submitted 1 year ago by [email protected] to c/[email protected]

44 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 122 points 1 year ago* (last edited 1 year ago) (5 children)

It's a low amount though (2000*36=€72k). What is more concerning is his 50,610 shares that he sold in total in the past year, as now that is a fairly big amount if he planned this move many months ago.

To be fair, these guys are much more suspicious:

Chief among them being Tomer Bar-Zeev, Unity’s president of growth, who sold 37,500 shares on September 1 for roughly $1,406,250, and board director Shlomo Dovrat, who sold 68,454 shares on August 30 for around $2,576,608.

EDIT:

Yeah, nothing really unusual in Riccitiello's trades. He may be an asshole but that's no reason to immediately accuse him of insider trading for a lousy $77.15k worth of shares given that he already has a pattern of selling way bigger amounts:

EDIT 2:

Here's Riccitiello's filing for that trade: https://www.secform4.com/filings/1810806/0001810806-23-000163.htm

Read in particular this part:

( 2 )The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 19, 2023.

That's not insider trading. That's a pre-planned trade (see Investopedia's entry about Rule 10b5-1) that would have been executed no matter what.

[–] [email protected] 2 points 1 year ago* (last edited 1 year ago)

never found the trades themselves suspicious (scheduled vesting) but the timing of their announcement, which JR had complete control over, is a bit fucky. Consider they edited the wiki in mid June. Then wait two months to announce a huge policy change, right after everyone that was getting out had already gotten gone.

load more comments (4 replies)