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WSJ (please find the article “Lordstown Motors Executives Sold StockAhead of Reporting Results and Before Troubles Came to Light” under the reading assignment folder ) runs a story about several top executives at Lordstown Motors Corp. selling off chunks of stock in the electric truck startup ahead of reporting financial results. For example, Chuan “John” Vo, one of its executives, sold almost all of his vested equity 99.3% on Feb. 2, leaving him with 717 shares and proceeds of more than $2.5 million. On June 14, 2021, the company said a special committee formed by Lordstown Motors’ board had looked into the executives’ stock sales and concluded they “were made for reasons unrelated to the company’s performance. Nonetheless, Securities lawyers, accountants, and analysts say such transactions are highly unusual and criticize the company has weak internal control over the trading of its officers. So, what internal controls over these executive actions exist at most publicly traded companies? In your answer, define the term internal controls. Also, why do others question the propriety of these executive actions despite this board of directors’ conclusion? Please discuss.

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