I haven't seen this posted yet. All of reddit's C-levels sold $41.245 million worth of stock in the first week of trading.

They are selling a small amount and keeping the rest. I have no great love for Reddit, but it's normal and smart.

Is there a source for that? Don’t get me wrong, I think reddit is over valued as an unprofitable company but the 80% number smells wrong.

According to the article he sold 500k shares but according the S-1 he was granted 662,447 as a bonus for achieving above a 5B market cap (he did, it was a low target), that’s on top of the 4.6M shares he holds in mixed class A/B.

For someone paid so much in stock it’s not uncommon to want to gain some liquidity and lock in some earnings.

https://www.sec.gov/Archives/edgar/data/1713445/000162828024006294/reddits-1q423.htm

This figure doesn't really pass the smell test, given that it's been repeated to death that the CEO makes $193 million, with the vast majority being stocks. Can you source the claim?

Their market cap today is something like $7.5bn?

$40m would be like 0.5%

This is not news as much as we all want it to be, they definitely have much more than that, even if it's tied up in an RSU scheme or something.

So what do you do when you have stock in a private company while still working at it. I imagine if you are heavily compensated with equity you will take going public as an opportunity to offload and diversity.

They're just being capitalists. Having 80% of your portfolio in a single entity isn't smart.

Isn't it true that a lot of stock dips down after an initial IPO high? Even if the company is solid? I'm not sure this isn't typical or even expected behavior for even well run companies.