Because such a hands-off approach leaves executives no discretion over when they cash out their equity-based compensation, it provides the most effective method for preventing executives from “gaming” the market and for ensuring that they are not rewarded for their information advantage. There is absolutely no reason to let executives’ payoffs be based on the happenstance of the stock price on a single day, at best, much less on their ability to use their access to inside information or control over disclosures.