Brian Krzanich, Intel's CEO reportedly sold $24 million in company stock, as he was contractually allowed. Krzanich sold the stock in late November, months after Google had informed the company of the security flaw in June.
To avoid charges of trading on insider knowledge, executives often put in place plans that automatically sell a portion of their stock holdings or exercise some of their options on a predetermined schedule, but Krzanich put that plan in place only on October 30, according to the filing.
Smells pretty fishy to me, if nothing else I expect he will be investigated based on this sale.
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.
To avoid charges of trading on insider knowledge, executives often put in place plans that automatically sell a portion of their stock holdings or exercise some of their options on a predetermined schedule, but Krzanich put that plan in place only on October 30, according to the filing.
Smells pretty fishy to me, if nothing else I expect he will be investigated based on this sale.
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.