Shyam Sankar, the Chief Technology Officer and Executive Vice President at Palantir Technologies (PLTR, Financial), recently offloaded 5,280,000 shares of Palantir worth $367.9 million. This sale was planned under Rule 10b5-1 trading plan that allows insiders to sell the company's stocks at certain arranged times. After the sale, Sankar still has 752,786 shares of Class A Common Stock of the company.
He seems like planning to sell more as his pre-arranged trading plan under the Rule 10b5-1 gives him room to sell more of his Palantir shares up to 7,305,000,000 shares by March 6, 2026. He started his plan on August
29,2024, replacing the previous plan that permitted him selling of up to 9.372 million of shares by June 30, 2025.
When he only has 752,786 shares left, how come he can sell 7.3 million more?
The 7.3 million shares stated in his trading plan could also consist of indirect share ownership like stock options or any derivative interest of the executive. While his direct ownership only left 752,786 shares but he has the right to sell additional share that he controls through other means.
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