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To: Sr K who wrote (6598)1/25/2006 9:29:18 PM
From: KeepItSimple  Read Replies (1) | Respond to of 15857
 
They can be in whatever fantasy currency you want- because nothing has to be filed with the SEC.

Your plan could say you are going to sell 100% of your shares on day 382 after the IPO, but nobody would know until that day because you aren't required to disclose the CONTENT of the plan.

Which means you can change the plan as often as you want to say whatever you want, because there is no way for ANYONE TO EVER SEE WHAT IS ACTUALLY IN THE PLAN.

It's the biggest loophole in SEC regulations in history, IMO.

All it does is allow insiders to sooth the sheep by saying "dont worry, we planned this long ago"

Until the SEC forces insiders to MAKE THOSE PLANS PUBLIC, then the whole thing is a complete farce that nobody takes seriously.

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Can 10b5-1 plans be in dollars?