As regulators and financial press slept, the ADP whistleblower has raised more red flags about malfeasance at the payroll giant.

ADP CEO Carlos Rodriguez last month cashed out $22.3 million of ADP shares from his long-in-the-money options, while his team of eight took home another $19.7 million.

These insider moves were, in fact, not reported by the press fully anywhere.

Rodriguez split the transaction into two tranches; a bot that follows insider moves picked up the first half ($13.9 million), but not the second ($8.4 million).

ADP’s shares fell about 8 per cent in the run up to the sales, with the stock since losing its upward momentum.

The company is reporting its third-quarter earnings on Wednesday — will analysts even ask about this compensation package? Unlikely.

As the whistleblower’s case against ADP slowly winds through America’s legal system, his lawyers pointed to a new piece of research being presented into evidence that could actually claw back that $22.3 million Rodriguez just paid himself as ill-gotten gains.

While management may pretend his case is just a sideline, their outside legal team is in tatters, with counsel stepping down, after a ploy to shut down the social media war against the company, to shutter ADPfraud.com, to close this website, to impinge on everyone’s First Amendment rights to say what one likes on Twitter, were totally ignored — nay, laughed at — by the court.

ADP Insider Transactions Reported – September 2019

InsiderTransactionTypeValueDateShares

RODRIGUEZ CARLOS A
Chief Executive Officer

Sale at price 160.65 – 162.27 per share.Direct $8,404,568Sep 12, 201952,228

RODRIGUEZ CARLOS A
Chief Executive Officer

Conversion of Exercise of derivative security at price 90.63 per share.Direct$4,733,424Sep 12, 201952,228

RODRIGUEZ CARLOS A
Chief Executive Officer

Sale at price 161.01 – 166.21 per share.Direct$13,887,914Sep 11, 201985,502

RODRIGUEZ CARLOS A
Chief Executive Officer

Conversion of Exercise of derivative security at price 75.10 per share.Direct$3,709,339Sep 11, 201949,392

BONARTI MICHAEL A
Officer

Sale at price 167.02 – 168.98 per share.Direct$3,549,488Sep 3, 201921,154

BONARTI MICHAEL A
Officer

Conversion of Exercise of derivative security at price 75.10 – 86.61 per share.Direct$1,313,107Sep 3, 201916,922

O BRIEN DERMOT J
Officer

Sale at price 167.87 – 169.28 per share.Direct$4,327,496Sep 3, 201925,751

O BRIEN DERMOT J
Officer

Conversion of Exercise of derivative security at price 75.10 – 107.35 per share.Direct$1,751,447Sep 3, 201918,659

AYALA JOHN
Officer

Sale at price 167.87 – 168.91 per share.Direct$3,886,509Sep 3, 201923,128

AYALA JOHN
Officer

Conversion of Exercise of derivative security at price 75.10 – 107.35 per share.Direct$1,341,801Sep 3, 201914,215

BLACK MARIA
Officer

Sale at price 167.81 – 169.06 per share.Direct$2,443,097Sep 3, 201914,541

BLACK MARIA
Officer

Conversion of Exercise of derivative security at price 75.10 – 90.63 per share.Direct$548,599Sep 3, 20196,522

ALBINSON BROCK
Officer

Sale at price 167.67 – 169.24 per share.Direct$1,121,887Sep 3, 20196,683

ALBINSON BROCK
Officer

Conversion of Exercise of derivative security at price 75.10 – 107.35 per share.Direct$496,890Sep 3, 20195,410

SACKMAN STUART
Officer

Sale at price 167.90 – 168.80 per share.Direct$1,303,139Sep 3, 20197,756

PERROTTI THOMAS J
Officer

Sale at price 167.29 – 169.19 per share.Direct$2,960,768Sep 3, 201917,637

PERROTTI THOMAS J
Officer

Conversion of Exercise of derivative security at price 75.10 – 107.35 per share.Direct$1,952,452Sep 3, 201919,640

WEINSTEIN DONALD
Officer

Sale at price 167.54 – 168.96 per share.Direct$79,626Sep 3, 2019475

One Thought on “As Share Price Drops, $ADP CEO Carlos Rodriguez Cashes Out $22 Million; @ADP Officers Take Home $20 Million”

  • The fight for justice against corruption is never easy. It never has been and never will be. It exacts a toll on our self, our families, our friends, and especially our children. In the end, I believe, as in my case, the price we pay is well worth holding on to our dignity.

    – Frank Serpico

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