Twitter Inc (NYSE:TWTR) executives have stopped selling the company’s stock.
Twitter had a 10b5-1 plan in place that allowed the company’s executives to sell its stock at regular intervals. This lead to some criticism of the company due to constant stock sales likely hurting the stock’s price. The last sale under this plan was on Feb. 6, reports Fortune.
While Twitter executives have stopped selling the company’s stock, its unknown if the plan was cancelled or not renewed. The only person still able to sell on the plan is co-founder Ev Williams. Prior to the ending of the 10b5-1 plan, Twitter executives were actively selling stock in Q4 2014 and Q1 2015, Fortune notes.
Twitter CEO Dick Costolo sold $35.2 million worth of TWTR stock since July 2014, which was a couple months after the company ended its first lockup period for stock sales, reports ValueWalk.
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