The company's market worth decreased by US$16b over the past week after the stock price dropped 9.4%, although insiders were able to minimize their losses. Tamara Erwin, made the biggest insider sale in the last 12 months. That single transaction was for US$1.2m worth of shares at a price of US$49.77 each. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$35.68. So it is hard to draw any strong conclusion from it. Tamara Erwin was the only individual insider to sell shares in the last twelve months.
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C level execs at VZ are required to hold a certain amount of VZ stock. She announced retirement, was moved out of her c-suite position and sold off her holdings because she is no longer required to have them. This is just part of the retirement process for high level execs. Nothing untoward to look at here.
Sampath is the one that got screwed because his buy-in was undoubtedly at a much higher price than the current stock value.
Tami was great at Verizon. She sold because she was forced out and doesn’t think the current leadership will bring it back up anytime soon. She can make a return a heck of lot faster elsewhere. Definitely not a good sign.
The story is VZ share price down 9.4% this week and Hans is still CEO. Tami sold because she has no confidence in Hans to increase the value of her shares. There's no way Hans and his team are leading us out of this abyss. Why is he still here.
She sold because she isn't working here anymore. Nothing burger. There's plenty of real stuff to criticize.
So did she get caught with insider trading and now is quitting? Or did she quit and decided to pull out due to that?
Tami was no fool.