Well this reference [1] says that Schappert started at Zynga April 21st of 2011, and this reference [2] puts that secondary offering where he sold $3.9 million in stock at March 23rd, 2012. That is about a month shorter than a full year.
I would guess he got the stock when he accepted the offer from zygna, not his first day.
Of course, maybe you're right, and he makes million dollar mistakes like like that all the time. If that's the case, good for zygna for getting rid of him.
It's not a mistake to sell the stock as quickly as you can if you anticipate a massive drop in the stock price. Which as an insider, you're in a position to do.
Let's see, stock price went from $13 to $3, so yes, he's way ahead, even if he pays more taxes.
True and since the pre-planned sale was at $12 and the current price is $3, assuming the stock scaled the same his $3.9M payday would have been a $975K payday, $480K after taxes. Quite the difference.
And of course if you were one of those folks who were forced to give back options [1] before the IPO, you are probably pretty pissed off.
Am I missing something?
[1] http://techcrunch.com/2011/08/21/another-ea-exec-jumps-ship-...
[2] http://venturebeat.com/2012/07/31/first-zynga-stock-sell-off...