The distinction between hard and soft 10b5-1 plans is not meaningful, IMO, and no one other than BSR_David even uses these terms, as far as I can tell. From a practical standpoint, I think all 10b5-1 plans ought to be considered “soft” insofar as they afford ample loopholes to game the system.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”