Setting up a 10b5-1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You should not have your job if you are asking this question here!

I think this is correct. You are a troll. Any C suite person that needs a 10b5-1 plan would have advice from the GC, HR, and from the securities firm where you hold any securities. Or you could even ask the CEO. If you have to ask here you have not a clue.

lol

Yeah, let me ask the CEO for advice on how I should set up my equity sale plan. Or the GC. Or HR. All very interesting ideas.

You're at least right about one thing. The securities firm is on deck to set up the plan and I've already talked to them. They've given some limited advice, but it's ultimately my call on how to schedule how/when to sell my RSUs, and under what circumstances. Since this is new to me, I'm looking for insights - do people typically sell immediately upon vesting, do they try to DCA, what tax implications should I watch out for, etc? Google doesn't really yield much that I saw, so I thought I'd try here since there seem to be a bunch of high income people here. But I think most may earning from other types of sources, so... oh well. It was worth a shot.

But if I was a troll, this would be a very lame attempt. Sorry this has strangely triggered some people.

So i'll come back to this as I as I know the answer. No, you wouldn't need to ask your CEO necessarily, but if you are C-Suite, it would not be odd to say to the CEO or other executives "hi xxx -- did you engage an external law firm or did our GC set up your 10b5-1". All it is is a simple sales grid like you would put in place for a repo. No different from law partners asking each other who their tax accountant is / recs given their tax complexities.

Yes and even if you would not ask the CEO -- and I am not sure why as I have never met a CEO of any company that was not happy talking about his or her money and how it is managed --- you can and should talk to the GC and HR. If your question is on sales I do think you need to talk to fellow execs. At some companies, any selling is viewed as bad. Back in the day at Microsoft, anyone who sold anything was viewed as having one foot out the door. You need to know.

PP is like “Sorry just ask Bill Gates how to manage your compensation” because CEOs aren’t focused on significantly more important problems or anything… This site can be so provincial with stuff like this. Also you can easily search if your fellow execs are selling stock or not via the SEC website because the insider trading filings are all public. No need to ask anyone.

OP if you haven’t already, try posting on the “FatFIRE” Reddit - there’s a lot of self made $$$ on there who likely have more relevant experience than this site.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You should not have your job if you are asking this question here!

I think this is correct. You are a troll. Any C suite person that needs a 10b5-1 plan would have advice from the GC, HR, and from the securities firm where you hold any securities. Or you could even ask the CEO. If you have to ask here you have not a clue.

lol

Yeah, let me ask the CEO for advice on how I should set up my equity sale plan. Or the GC. Or HR. All very interesting ideas.

You're at least right about one thing. The securities firm is on deck to set up the plan and I've already talked to them. They've given some limited advice, but it's ultimately my call on how to schedule how/when to sell my RSUs, and under what circumstances. Since this is new to me, I'm looking for insights - do people typically sell immediately upon vesting, do they try to DCA, what tax implications should I watch out for, etc? Google doesn't really yield much that I saw, so I thought I'd try here since there seem to be a bunch of high income people here. But I think most may earning from other types of sources, so... oh well. It was worth a shot.

But if I was a troll, this would be a very lame attempt. Sorry this has strangely triggered some people.

So i'll come back to this as I as I know the answer. No, you wouldn't need to ask your CEO necessarily, but if you are C-Suite, it would not be odd to say to the CEO or other executives "hi xxx -- did you engage an external law firm or did our GC set up your 10b5-1". All it is is a simple sales grid like you would put in place for a repo. No different from law partners asking each other who their tax accountant is / recs given their tax complexities.

Yes and even if you would not ask the CEO -- and I am not sure why as I have never met a CEO of any company that was not happy talking about his or her money and how it is managed --- you can and should talk to the GC and HR. If your question is on sales I do think you need to talk to fellow execs. At some companies, any selling is viewed as bad. Back in the day at Microsoft, anyone who sold anything was viewed as having one foot out the door. You need to know.

PP is like “Sorry just ask Bill Gates how to manage your compensation” because CEOs aren’t focused on significantly more important problems or anything… This site can be so provincial with stuff like this. Also you can easily search if your fellow execs are selling stock or not via the SEC website because the insider trading filings are all public. No need to ask anyone.

OP if you haven’t already, try posting on the “FatFIRE” Reddit - there’s a lot of self made $$$ on there who likely have more relevant experience than this site.

Thanks. That's a good call.

[Anonymous]

OP, when I had to do this for the first time, my company set me up with someone at JP Morgan to discuss it. I’m sure your company has something similar as this isn’t something you tend to know about until you need to know!

[Anonymous]

Anonymous wrote:OP, when I had to do this for the first time, my company set me up with someone at JP Morgan to discuss it. I’m sure your company has something similar as this isn’t something you tend to know about until you need to know!

Thanks. Yeah, I've gone back and forth a bit with our bankers about my financial goals, draft plans, etc. So far, so good.