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Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year (www.thedailybeast.com)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year::Nineteen years since its founding, the social media site is finally going public.

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[–] essteeyou@lemmy.world 8 points 9 months ago (1 children)

Employees usually can't just sell their stock whenever they want, especially at the C level. They have scheduled sales because they always have material knowledge about the company that would lead to insider trading.

Regular employees will have long vesting schedules (often backdated to their start date if they worked there while it was private), and often can't sell in certain blackout periods.

[–] DosDude@retrolemmy.com 8 points 9 months ago

But the fines are usually peanuts compared to the profits, so chances are the pigboy is going to sell.