The problem is, his stock options may not have vested, and Carney would be aware of the vesting schedule. It could be years before he (or whoever is managing the trust) could exercise those options and/or sell those shares.
In other words, the trust may not be ‘blind’ in practice.
This was the original criticism from reporters such as Rosie Barton, and many of Carney’s supporters never bothered to try to understand the issue.
As soon as they vest, they are entered into the blind trust and Carney will have no knowledge or input into what happens with them
Unvested stocks can’t really be part of a blind trust because the holder can’t do anything with them until they have vested, and the vesting schedule being known means that the “blind” isn’t there in the blind trust
Fine by me. Most of the policies Carney proposed will support big companies and people with stocks.
If Carney sells his stocks and doesn’t have investments he’ll be like a significant proportion of Canadians.
Join us, rich boy.
(And Poilievre can sell his ten rental properties and donate his parliamentary pension to cats or something)
It’s a blind trust. Maybe they’ve already been sold. He doesn’t know. And because it’s in a blind trust, if he did want them sold he:
This is as stupid as the excuses to not get a security clearance
The problem is, his stock options may not have vested, and Carney would be aware of the vesting schedule. It could be years before he (or whoever is managing the trust) could exercise those options and/or sell those shares.
In other words, the trust may not be ‘blind’ in practice.
This was the original criticism from reporters such as Rosie Barton, and many of Carney’s supporters never bothered to try to understand the issue.
As soon as they vest, they are entered into the blind trust and Carney will have no knowledge or input into what happens with them
Unvested stocks can’t really be part of a blind trust because the holder can’t do anything with them until they have vested, and the vesting schedule being known means that the “blind” isn’t there in the blind trust
And when will that be? Will that happen while he is PM? Carney knows, and we don’t. And that’s the problem!
When they vest? Generally stocks vest to a schedule like x% per month over 4 years from when they were issued.
So why doesn’t Carney disclose this? Do you agree he should?
He could I guess, but it’s pretty standard stuff so the outrage over it seems manufactured to me.
Personally I’ve not heard of a PM having millions in unvested stock options before this one, so, not sure how standard it is.
If Poilievre was doing the same, would you have the same response?