Instacart Employees Could Sell Shares Earlier Than Usual After IPO

Posted on AllSides September 19th, 2023
From The Center

When Instacart’s stock starts trading Tuesday, employees will be among those watching the price closely. One big reason: There’s a provision in the company’s regulatory filing to go public that says if the stock trades at more than 120% of its IPO price for at least five of 10 consecutive trading days—one of which must come after the company’s first quarterly earnings announcement—employees can sell stock. Otherwise, they must wait the full, and more typical, 180 days. The move illustrates how as companies wait longer until they go public, the...

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https://wsj.com/livecoverage/stock-market-today-dow-jones-09-19-2023/card/instacart-employees-could-sell-shares-earlier-than-usual-after-ipo-90PjbuA8eJ5An11lxTlw

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