Lock-up period for board members, senior execs of Tadawul-listed firms starts today

The Capital Market Authority (CMA) set today Dec. 2, 2020 as the beginning of the lock-up period for board members and senior executives of all Tadawul-listed companies, whose fiscal year ends on Dec. 31, 2020.

The restriction period will end on the day a company discloses its financial results.

The step is aimed at banning directors and executives from trading in their company’s stock based on the financial statements, thus affecting the stock movement.

It is noteworthy that the period for disclosing the full-year results for 2020 will start from Jan. 1, 2021, until March 31, 2021.