BlackBerry executives sold newly vested stock on day of warning
TORONTO (REUTERS) - Top BlackBerry executives sold small blocks of the company's stock on the day that the smartphone maker warned of a huge quarterly operating loss and massive job cuts, according to Canadian regulatory filings.
The filings showed that chief executive Thorsten Heins and chief financial officer Brian Bidulka sold about 51.1 per cent of their batches of newly vested shares on Sept 20, netting C$121,107.68 (S$147,000) and C$40,386.79, respectively.
There is no indication of any wrongdoing by the executives or the company.
The shares were sold automatically by the trustee of BlackBerry's restricted stock unit (RSU) plan to cover taxes owed by the two executives as a result of the vested RSUs, BlackBerry spokesman Adam Emery said by email.