How far in advance can insider sell their own company's stock?
Assuming this is not a new IPO, and no lock-ups, how far in advance do insiders have to declare selling their stock?
From what I read online, they certainly can not immediately sell their stock the day or 2 before they report earnings, but how far in advance do they have? A month? 2 months?
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To my knowledge, there are no laws in the US that specify any specific time frame during which insiders cannot sell company stock. Insider trading laws instead are based on the access to material, non-public information, regardless of timeframe.
Many companies have policies that prevent employees from trading within certain timeframes of press releases or earnings reports without prior approval, but those are company-specific policies, not legal requirements.
The bottom line is if someone trades (or "tips" someone else who trades) on the basis of material, non-public information, then that person may be guilty of insider trading.
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