TechFlow news — On November 4, according to Barron's, several executives and directors of Coinbase have recently adopted stock trading plans to sell over $900 million worth of company shares. According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on October 30, 2024, three executives and two directors plan to sell up to 5 million shares. Based on the closing price of $182.88 on November 3, the total value is approximately $909 million.
The trading plan will begin on November 18 and conclude by November 14, 2025 at the latest. The company uses these automated trading plans to avoid allegations that insiders may be trading based on non-public information. Coinbase CFO Alesia Haas previously stated during an earnings call that all insiders continue to hold long-term confidence in Coinbase, emphasizing that these sales represent only a small portion of their total holdings.
Previous report, Coinbase CEO Brian Armstrong posted on X saying he still retains the majority of his Coinbase shares and intends to operate Coinbase for the long term.
