"It depends on the restricted stock and stock option agreement he signed. Most say he is an insider for at least 90 days. The longest I have seen is one year. Additionally, given that he has a significant stake, I believe he has to notify the exchange if he trades. This I believe is public information as long as he owns I believe 5% or more. You can check the SEC web site for the exact number. It could be 10% for a small company."