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The dollar value of sales by 1,042 chief executives, chief financial officers and company directors in August topped any month since November 2015, according to figures compiled for the Financial Times by Smart Insider, a data provider. The number of executives selling was the highest since August 2018.
The selling follows a rush among insiders to buy the dip in March and April. However, August sales do not include executives and directors flipping shares purchased in those months, because they must hold on to profitable stock for at least six months, said Bill Lattimer, a partner at Smart Insider. “Any insider who purchased shares during the March or April lows — and there were a lot of them — [is] still not eligible to sell shares,” he said.
