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> you don’t share that equitably with the people you have that obligation to, that’s insider trading (in the US).

so if you simply tell the other shareholders to also participate in the insider trading, you'd be free of charges?

You'd have to tell all shareholders and potential shareholders the same information you have, i.e. make the information public, then it's no longer inside information.

but public implies public to non-shareholders too.

What if there's a secret communications channel for all current shareholders? Do these current shareholders offloading shares (to future shareholders) count as insider trading under this scenario?

Everyone is potentially a shareholder.

but you don't have any obligation to all potential shareholder as an insider, just the current shareholders. Which is what i was trying to get at with my comments.

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