Anthropic is considering mandating Rule 10b5-1 pre-scheduled stock-trading plans for all employees as it pursues an IPO, aiming to reduce insider-trading risk and create a clear paper trail. The plan would require timing, amounts, and prices of sales to be set in advance, extending a practice typically limited to executives and certain staff. The company is also weighing first-day insider selling limits and post-IPO lockups. Rule 10b5-1 rules, updated in 2022, enforce cooling-off periods and require certification that the seller has no material non-public information, underscoring the governance emphasis behind the proposal. If adopted, extending such plans to the entire workforce would be unusual for a pre-IPO company and could influence investor perceptions of governance. Anthropic reportedly filed Form S-1 confidentially around June 2026 as it eyed a potential public listing, with discussions ongoing among advisers.