AI startup Anthropic explores requiring all employees to use preset trading plans to mitigate insider-trading risks ahead of its public listing.
Anthropic is evaluating a policy that would compel all employees to sell company stock through 10b5-1 trading plans following its initial public offering. The move aims to address insider-trading concerns as the firm prepares for a highly anticipated market debut amid surging investor interest in artificial intelligence companies.
Currently, 10b5-1 plans are typically reserved for executives and select legal or finance staff, allowing preset stock sales outside traditional trading windows. The proposed requirement would extend this to rank-and-file employees, dictating the timing, volume, and price of sales in advance. Discussions with advisers are ongoing, with no final decision announced.
The company is also assessing first-day share sales by existing investors and post-IPO lockup periods. Public firms usually permit broader employee stock sales only during designated windows after earnings reports, but preset plans could enable sales outside these periods while limiting discretion.