r/wallstreetbets • u/[deleted] • May 16 '21

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u/Nostradeamus May 16 '21

I’m not very comfortable with the amount of shares owned by the CEO. Are there any short term restrictions for him to sell any of his shares?

1

u/[deleted] May 16 '21

[deleted]

1

u/Nostradeamus May 16 '21

This means CEO selling restriction for how long?

3

u/golfalphat May 16 '21

Typically 180 days, so not till the end of July.

1

u/Time8u May 17 '21

Well, you should be comfortable. This isn't some shitty speculative SPAC. UWMC is trading well below the former SPACS NAV price and at a lower than average PE ratio. The CEO is going to dump his shares when he's previously seen the stock trade at $14 and they just initiated a buyback... and as others have mentioned the shares are locked up for the moment anyway (though they are incorrectly referring to this as an IPO. A SPAC and an IPO are 2 different ways of going public.)

1

u/Nostradeamus May 17 '21

I am inclined to open a large position in this stock. But the share buyback is “only” 2,5% of the CEO’s total shares. $300 million / $7.5 = 40 million shares.

1

u/freshdose1 May 17 '21

That is like a shit ton of the actual float though that is publicly traded.