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They have to give advanced notice before selling, they can't just sell stock on the whim.
So?... I am the CEO... I know our new line of highly anticipated space tentacle dildos are not going to be in stores by Christmas as expected, I give notice and sell stock before the public finds out and stock goes down
I also know, because of the delay, we are squeezing the Chinese manufacturer, so I will give notice and buy the stock in January knowing we are probably going to offer deep discounts to get those consumers back
How is giving advance notice any safety? unless the rules say they need to give 500 days of notice or something long enough there is no possible way to predict properly with ALL the information and power a CEO would have to manipulate the stock
If I'm a stock holder or potential buyer of stock and I read that the CEO is dumping billions of dollars of his own stock, I am going to think something bad is happening. Notifying the public in advance gives us more information to decide what we should do.
Sometimes, that information just tells us this is a scheduled dump of a small percentage, which is normal and expected. Sometimes it is a huge dump, which is unexpected.
They don't have to notify the public at all
source
You're correct. They do have to notify the SEC, but not necessarily release that publicly.