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January 21, 2022By Origin Ten LTD4 Minutes

Peloton execs sell shares before prices plunge, CEO pockets $119 million By CNBC Television


Peloton shares have plunged over the past six months are now about 30 bucks in the market cap of 9 billion at $170 a Share House things seem to make sense in it going to give in. Where you are but they really didn’t some Executives seems like they knew this or that they had some very well time scheduled sales because they have what is a big drop Robert Frank joins us now with more expensive you know that I would say it is time to sell Robert but

you’re right though it’s not necessarily unique to Peloton to tell timeshares falling another three and a half percent yesterday down over 80% from their Peak last year but I see mentions Health on Executive selling about five hundred million dollars worth of shares all before that big drop John Foley the company’s co-founder and CEO sold 119 million dollars worth of shares that was between the end of 2020 and the fall of 2021 most of those sales were for about $110 a share or higher they now as you mention traded around $30 this year Peloton did not respond to requests for comment but according to SEC filings fully started a pre-scheduled selling program in September 2024 quote personal financial management purposes the plan calls for selling 2.4 million shares through October of 2022 so far he has sold just over 1 million shares with his last sale finished last August other Peltz

Executives also cashing in close to those highs all through selling programs the chief legal and culture officer sold over 90 million in shares the chief product officer over 60 million + 28 million total total Insider selling last year was 496 million. So that’s a lot for a company of this size almost all those sails again where are the stock prices over $100 which in the rearview mirror looked very smart timing the 50 billion with a lot for a market cap for for this company that that’s for sure and I had a pallet. I know you will and I love my Peloton tread but Robert the question I have about the attendee 15 plants has has anybody ever thought about saying you can sell on the certain dates but you can’t cancel your sale and one of the things that I think people do use it is to sort of schedule these sales and then they cancel Lannon

when when it works for them and they don’t win it doesn’t

you’re absolutely right that is a great point I’m surprised and it would be a shame to see if the SEC starts looking at how much flexibility is in these plans that are always sold to investors that’s just prescribed so therefore I should raise any eyebrows when you looked at the sales in Palatine you looked at not only some people sort of pausing there sales at certain times but also escalating them so it it seems like they can only decide what I’m going to end it here early and then restart it again but also change how much they sell as long as they give advance notice so this is something perhaps the SEC will look into