NigelM
Recovering Member
+1
i wonder how far out they set their trading dates? Does anyone know 105b-1 stipulations?
I think you mean 10b5-1. That 'rule' actually just requires that the trading plan is established when the trader (in this case Rive himself) is not in possession of non-public, material information; the concept being that 10b5-1 plans can be used (they are not mandatory) as an affirmative defense for company officers against accusations of insider trading. Normally the plan is established at least 30 days in advance but may be up to a year or more; there's no set time requirement or even recommendation. Plans simply commit the officer/insider to trades specified in advance for certain days. Typical time frame for such plans is for adoption immediately after an earnings release when officers would hopefully have zero material, non-public, information.
Existence of a 10b5-1 plan for any given company officer does not preclude them from making other trades outside of that plan provided they are not trading based on insider information.
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