Jack Dorsey and Other Twitter Insiders Make Show of Support | Hacker News Reader

Jack Dorsey and Other Twitter Insiders Make Show of Support

nytimes.com

22 pointsakud17 comments

It's a token gesture at best.

If he used all/most of the proceeds from his previous sales of the stock at its previous inflated prices and bought it all back at a this current low price then THAT would be a "show of support."

A $875,000 purchase leading to a $40mm increase in value in his overall holdings of TWTR.

Well played sir, well played.

Benefits of market movers.

A few thousand share purchased to someone who owns millions of shares in a company is not what I would call a "Show of Support"

$875,000 in shares is a lot of money and something I'd consider "show of support"

The guy is a multi-billionaire. $900k would be like $100 for most of us here: nothing.

A billionaire on paper, mostly in Twitter stock (which means he has lost a lot of that paper wealth lately) and in Square which hasn't had an IPO yet. It's not a giant move, but a $900k insider purchase is fairly big.

Jack has probably half a billion dollars of non square, non twitter assets. Hell, merely post ipo he's sold almost 20m shares of twitter -- even at a stock price of just $30, that's $600e6 before taxes. And he's certainly had the ability to take cash before ipo in both twitter and square.

https://finance.yahoo.com/q/it?s=TWTR+Insider+Transactions

I would imagine he sold a lot of stock to pay for taxes after the Twitter IPO.

I may have misinterpreted the above webpage; I'll try to update tonight.

Either way, he should have been taxed at ltcg, so at most 20%.

http://www.sec.gov/cgi-bin/own-disp?action=getowner&CIK=0001...

He started out with 22,203,018 shares and before the latest purchase had 21,888,416 shares, for a total of 314,602 sold shares (or a mere 1.4%). If anything that's a surprisingly little amount of shares sold considering it is the bulk of his net worth. Note that he's a billionaire if you count the equity in Square, his Twitter holdings come out to $645M (counting a cool $54 net gain on his TWTR holdings today!).

thanks

Though he almost certainly got cash before too -- DST bought $800m of shares in 2011: half new shares, half from founders and employees

http://www.mercurynews.com/wiretap/ci_18596988?source=rss

plus he had 23.4mm shares pre-ipo

http://www.businessinsider.com/the-folks-cash-flushed-from-t...

And why would he have to sell shares during the ipo? As far as I understand, he should have had virtually no expenses, assuming he (as all founders should) did an 83b election early on.

The only people this empty act will fool probably don't own twitter stock.

I've seen a lot of people dismissing this as insignificant. It's not when you realize that while Dorsey is a billionaire, the majority of his wealth is illiquid (tied up in Twitter and Square). He's clearly sold Twitter stock to get liquidity at various points and should not be faulted for that because it's logical. A quick scan of his sales (which are infrequent compared to other insiders) leads me to believe this was non-trivial portion of his liquid net worth.

I would be surprised if it was more than 1% of liquid net worth (i.e., trivial).

Per Business Insider, Twitter's CFO is the only senior executive who has bought stock in 2015. Looks like they are trying to react to that story from Friday. Link: http://www.businessinsider.com/twitter-cfo-anthony-noto-buyi...

This is kinda weird. I mean what is the point of shaming people into not selling their stock?

Reply on news.ycombinator.com