Uber Execs Sell 78 2 Million In Company Stock Just Days After Mass Layoffs

Hazelbaker’s big sell-off has caused some chatter among the remaining employees of the rideshare company. Revenue for Uber has tanked and 10,000 Uber employees have been laid off. Some feel it shows a lack of confidence in the company or that she’s getting ready to resign. For what it’s worth, Hazelbaker is the longest-serving executive at Uber who has never cashed out her shares prior to now. She’s been at the company for five years and is the last remaining executive who served under co-founder and former CEO Travis Kalanick. Hazelbaker isn’t the only high-profile Uber-connected person to sell off stock. Co-founder Garrett Camp has sold $69.6 million since the beginning of the pandemic in the U.S. Since last fall, he has sold 44% of his stake in the company, according to documents filed with the SEC. Just since January 2020, he’s sold $145.4 million worth of shares. He’s sold $69.6 million of that since March. For Camp though, it was pre-arranged and part of the Rule 10b5-1 plan. Camp announced he was resigning from his voting position on Uber’s board on March 31. Camp is a member of the Giving Pledge.