Executives of a certain level at TWX were being paid a retainer fee to encourage staying on board, at least until the acquisition was finalized.
50/50
Half by “x” date, the other half when the acquisition closed. Executives keep the first 50% no matter what.
Also, when the acquisition closes, any and all RSU’s immediately vest and become free trading.
Based on the exchange of shares / cash in the TWX acquisition, and how this deal may play out, there will be a lot of shares that could suddenly hit the open market that were previously unvested TWX shares that TWX executives could look to cash in on and diversify their holdings into other holdings.
I believe this facet described above, combined with T subscriber numbers falling and a slightly negative forward looking outlook, is contributing to T’s downslide as of late.
Sold 2,000 shares of TWX a few weeks ago, as well as 1,500 shares of T soon after.
Further diversify, sit in cash and wait, or initiate short positions and immediately cover on any sign of a confirmed reversal.
Still have holdings in T and TWX, but far less exposure than a few weeks ago.
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