Move plan adoption to see the read flip:
Actual — May 11
Counterfactual — after catalyst
Reset to verified
10b5-1 plan adoption predating catalyst weakens the bearish-insider-selling read
A May-to-August 2026 timeline. Dragging the plan-adoption marker across the Aug 6 earnings catalyst boundary flips the verdict between routine diversification and bearish-insider-selling.
May 2026
Jun
Jul
Aug 2026
discretion disabled under plan
Plan adopted
May 11, 2026
trade params locked
May 11
Q2 earnings
Aug 6, 2026
catalyst gate
52-week high
post-earnings peak
Trade executes
Aug 11 — under plan
no discretion
Routine diversification
adoption precedes catalyst
affirmative defense holds
sale cannot encode post-catalyst info
Bearish-insider read
adoption AFTER catalyst
affirmative defense fails
sale encodes post-catalyst view
Rule 10b5-1 affirmative defense — timing gate
plan adoption date vs. catalyst date vs. execution date
Drag the blue plan-adoption dot along the rail, or use the buttons above. Crossing the Aug 6 earnings gate flips the verdict.