Nick, a Salesperson for Olive Grove Corporation, Learns That Olive

Nick, a salesperson for Olive Grove Corporation, learns that Olive Grove will in-crease the dividend it pays to shareholders. Nick buys 10,000 shares of Olive Grove stock. When the dividend is announced to the public and the price of the stock increases, Nick sells his shares for a profit. Nick would not be liable for insider trading if the information about the dividend was

A) material when Nick sold the stock.
B) available to the public after Nick bought the stock.
C) available to the public before Nick bought the stock.
D) forward-looking when Nick bought the stock.