Intel CEO Brian Krzanich dumped $24 million of Intel stock options in November, a couple months after the company was notified of a security vulnerability in their processors (which the public is just now finding out about). Are higher ups running around with their hair on fire over at Intel? This will be fascinating to see what excuse they come up with for why he dumped his stock!
He is now $24 million richer to hire a good lawyer
I believe the C-Suite is required by SEC rules to sell stocks only on predetermined dates, announced and fixed N months in advance. I think its possible this was coincidental. Or a bigger conspiracy than proposed.
“Intel says the sale was preplanned — but that plan was put in place months after it learned of the chip vulnerability...The stock sale raised eyebrows when it was disclosed, primarily because it left Krzanich with just 250,000 shares of Intel stock — the minimum the company requires him to hold under his employment agreement.”
@prolexa5mg That is not a requirement.
It was part of a 10b5-1 plan, dumbass.
Fascinating, eh? I guess you don't really understand how the world works. The best case prosecution outcome is that he reaches an sec settlement for an undisclosed amount
All theses CEOs are asshats. Even the CFO at Equifax dumped his shares,right before the news of the breach went public.
Intel stock is only down like 5% or so, which is a blip. I'm sure their stock will recover. Doesn't seem like a big deal that he scheduled to sell stock beforehand.
Well, it dpeneds on what you call a big deal. If he scheduled the sale based on information no one else had,then it's a fairness issue. He got to protect the downside, when no one else did, regardless of whether the downside materialized or not. Overall, as I mentioned in a different comment here, these things will likely go the route of "sec threatens investigation-> reach preemptive settlement of 1M (insert your favorite no) with no admission of an wrongdoing" and save everybody money and debates. Probably as it should be.
Especially since he only has $11M of Intel stock left. Lot different than if Bezos sells $24M of stock on a percentage basis
How much did he historically hold?
Yes but he’s OUR moron! #dumbAndDumber
No. If it is what you say then he would be booked for insider trading. They are more qualified to handle this than your baseless accusations, so wait for their ruling and remember- innocent until proven guilty.
“Intel CEO Brian Krzanich sold off a large portion of his stake in the company months after Google had informed the chipmaker of a significant security vulnerability in its flagship PC processors — but before the problem was publicly known.” http://www.businessinsider.com/intel-ceo-krzanich-sold-shares-after-company-was-informed-of-chip-flaw-2018-1
Don’t speculate and throw allegations. Let SEC investigate and treat him innocent until found guilty. Remember, for CXOs such stock sells are scheduled much in advance for this reason.