[WalterBright]

Stock based compensation goes to zero in bankruptcy.

[lanstin]

Usually somehow the execs have sold out just before the bad news, while the regular employees haven't liquidated their 401s/stock plans.

[WinstonSmith84]

Usually? Please ...

That's called insider trading and those who do that ends up in jail or at best have to hide in the sun for the rest of their life.

[paulmd]

A recent example would be Intel's CEO Brian Krzanich dumping as much stock as he could after learning about Meltdown and before the news went public.

https://arstechnica.com/information-technology/2018/01/intel...

The article also cites Equifax's CEO selling before the news of their data breach went public.

And that's just the ones that are prominent enough that everybody knows about it.

[lanstin]

Even just the routine sell off ten percent a year or whatever a financial planner would advise is something one can't do with your 401k.

[bumby]

There's of course legal ways to do similarly. I thought this was a good example of John Krafcik's resignation which to a certain extent meets the same aim:

Official resignation letter:

https://blog.waymo.com/2021/04/capstone-of-my-career-email-f...

"Interpreted" letter:

https://gist.github.com/ChuckM/ff5fc8c800c7fe9160483b68ec45a...

[ivan888]

Is "hide in the sun" an idiom I'm unfamiliar with? Genuinely curious about what this means

[centixel]

Not OP, but I take it to mean that they flee to a tropical country with limited extradition laws.