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Mr. Van Wie could not sell any of his shares right away because of a lockup period imposed on company insiders.
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The article also referred incorrectly to shares that can be sold at the expiration of a lockup in mid-November.
The most likely culprit was the expiration of a lockup period that prevented insiders from selling their holdings.
The head of the troubled New York City jail system said this week it is critical to send mentally ill inmates to treatment programs instead of a lockup.
Then it's another four years of a lockup before he can exit.
He advises against shorting against stocks just because a lockup expiration is coming up.
Policy makers judged that a lockup of this aspect of United States financial markets would have an untenable negative impact on the economy.
Any of the 129 million shares not sold during those offerings are subject to a lockup of two and a half years after the spinoff closes.
There appears to be one bright spot in this cloudy scene: the remaining 16 million Arris shares owned by Nortel are subject to a lockup of one year.
There's no more fraction-of-a-second delay when you type in Word, and no more mysterious 90-second lockups in Entourage.
Snap shares fell 4percentt and closed at a record low on Tuesday at $13.10, but it wasn't just because of the dreaded lockup expiration, which allowed some insiders to finally sell shares.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com