unlock date
n. The date following an initial public offering of stock when the company's management, employees, and large shareholders are allowed to sell their shares on the open market.

Example Citation:
"At day 181, the fire hose hits. Everyone and his brother is unlocked. If the stock is at lofty levels, they will blow out, or try to, all at the same time. It is uncommon for any stock to trade up when shares are unlocked. Shorts try to outguess the market and short stocks ahead of the unlock date, figuring they will buy distressed shares lower."
—Andy Kessler, "IPO = Inefficient Public Offering," TheStreet.com, August 11, 1998

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