Feb. 19 at 7:21 PM
$CELH Fieldly has already monetized a large portion of his CELH position—about
$129M of stock sold—leaving roughly ~900k shares.
So the key question becomes: what’s his highest-powered incentive going forward? With
$PEP in the picture, he likely cares less about the residual mark-to-market of their legacy equity and more about the next equity stack—retention packages, rollovers, performance awards, and strategic upside tied to the acquirer. This is his path to become a Billionaire, not the
$40M he still holds in CELH today.
You don’t need conspiracy to explain the behavior: the incentive structure alone can produce outcomes where leadership prioritizes what maximizes their expected value—especially if future upside is tied to the acquirer’s equity.
I will be filing a complaint with the SEC.
