Is the timing suspicious? Should T-Mobile customers and employees be even more worried than they are? The answer to both questions is “No.”
T-Mobile President Mike Sievert sold 40,000 T-Mobile shares in a transaction valued at $6.5 million
There are some indications that Sievert’s T-Mobile stock sales have nothing to do with the mysterious actions that T-Mobile is taking this week. First of all, the stock sales were made under a Rule 10b5-1 trading plan that Sievert put into effect in November 2023. This plan allows corporate insiders to sell shares at predetermined periods of time reducing the odds that the insider will be accused of insider trading.
Additionally, Sievert still holds 438,124 T-Mobile shares so the 40,000 shares sold represented only 8.4% of the executive’s holdings. That means he still has plenty of skin in the game and seriously bad news for the company still could hurt his wallet. Besides, if the news is what we suspect it is, a price hike for legacy postpaid plans, it shouldn’t result in a mass exodus of customers from T-Mobile. Certainly, nothing should happen that would result in the stock crashing.
While we are still intrigued by what has T-Mobile expecting to face the wrath of its subscribers before the end of this week, there is nothing suspicious in the timing of Mike Sievert’s stock sale. The stock itself has taken the impact of this news and still managed to move higher today by 46 cents to $164.36.
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