Intel's CEO Sold $24 Million In Stock After Learning About Security Flaw

rgMekanic

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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.
 
Who new taking more risks meant "risk going to prison"?
 
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He needs some jail time for sure. Thought this crap was taken care of with the Enron crap that went down years ago.
 
Enron illustrated that they could get away with it.
So very true but you would think they justice dept would wise up to this and start enforcing it.....I guess it pays 2 fold to be a CEO, do whatever the F you want and get away with it and when you get fired they pay you to leave.
 
This kind of thing pisses me off so bad. As someone that works in the financial industry I can safely say we're more heavily regulated than healthcare providers. If I don't archive my emails, fail to post a single trade, buy something suspiciously but not illegally, etc... I go to jail. If some politician deletes 30,000 emails, NBD, someone leaks classified information to the press and lies under oath NBD, some fuckers sell their stock based on negative material inside information, NBD.

This is the kind of thing that ultimately leads to vigilante justice.
 
This kind of thing pisses me off so bad. As someone that works in the financial industry I can safely say we're more heavily regulated than healthcare providers. If I don't archive my emails, fail to post a single trade, buy something suspiciously but not illegally, etc... I go to jail. If some politician deletes 30,000 emails, NBD, someone leaks classified information to the press and lies under oath NBD, some fuckers sell their stock based on negative material inside information, NBD.

This is the kind of thing that ultimately leads to vigilante justice.

Or revolution.

The rich and powerful always live by a different set of rules, but when the problem gets too egregious -- as seems to happen periodically -- then very bad things can follow. :unsure:
 
welp when and where are we meeting with our pitchforks? this asshat gets to profit from all our collective crap? not fair.
 
The CEO was made aware of the flaw well after he sold his stock. That is how it will go down. :D
 
So very true but you would think they justice dept would wise up to this and start enforcing it.....I guess it pays 2 fold to be a CEO, do whatever the F you want and get away with it and when you get fired they pay you to leave.

I couldn’t stop laughing. The Jeff Seasions (corporate owned) Justice Department going after him? Im dying here lolol
 
This kind of thing pisses me off so bad. As someone that works in the financial industry I can safely say we're more heavily regulated than healthcare providers. If I don't archive my emails, fail to post a single trade, buy something suspiciously but not illegally, etc... I go to jail. If some politician deletes 30,000 emails, NBD, someone leaks classified information to the press and lies under oath NBD, some fuckers sell their stock based on negative material inside information, NBD.

This is the kind of thing that ultimately leads to vigilante justice.
So what you're saying is that rules don't apply to rich people? Keep the plebs happy and you can do whatever you want.
 
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Why do you people hate. Who gives a shit. All of us being in his position would have done the same exact thing.
 
So is this flaw something that can be bandaged with software, or is it like the broken FPU from the Pentium 60MHz?
 
I couldn’t stop laughing. The Jeff Seasions (corporate owned) Justice Department going after him? Im dying here lolol

Hey, we can hope. But they're probably too busy going after weed. :mad:

Edit: Though I think this would be the SEC, not the Justice Department.
 
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If he does goes to prison it is going to be white collar prison anyway. Where he still live a better life then most people.
 
If he does goes to prison it is going to be white collar prison anyway. Where he still live a better life then most people.

True, but it beats him walking away unscathed (which admittedly is the most likely outcome).
 
If he does goes to prison it is going to be white collar prison anyway. Where he still live a better life then most people.

Probably gets to leave "prison" for 10 hours a day, 5 days a week, to go to work, too. It's all upside down.
 
I'm going to miss the Retail edge program but not the brainwashing what happens in Santa Clara stays in Santa Clara Cali.
 
Something I find interesting.

So you are complaining about him being a douche, and "Something needs to be done", or that "there is no justice".

Yet in EVERY case where your computer specs are shown in your sig, YOU ARE ALL USING INTEL CPUs!

Instead of just sitting on your butts behind a keyboard and bitching, why don't you actually do something about it?

How about doing what I have been doing since the Athlon days when Intel started their illegal practices and VOTE WITH YOUR WALLET.

I have never bought an Intel CPU because of their shady and illegal business practices. I refuse to reward criminals for their illegal behavior.
 
Something I find interesting.

So you are complaining about him being a douche, and "Something needs to be done", or that "there is no justice".

Yet in EVERY case where your computer specs are shown in your sig, YOU ARE ALL USING INTEL CPUs!

Instead of just sitting on your butts behind a keyboard and bitching, why don't you actually do something about it?

How about doing what I have been doing since the Athlon days when Intel started their illegal practices and VOTE WITH YOUR WALLET.

I have never bought an Intel CPU because of their shady and illegal business practices. I refuse to reward criminals for their illegal behavior.

So everyone should just dump what they've already purchased and jump on the AMD bandwagon? That's some sound advice.
 
Probably gets to leave "prison" for 10 hours a day, 5 days a week, to go to work, too. It's all upside down.
He's in the 1%. This story will just blow over. The new 1% catch phrase is "Criminal Intent". He committed a crime but he didn't realize he did it at the time. Off scott free.
 
sorry folks, but that Intel CEO is most likely to big to fail
 
So everyone should just dump what they've already purchased and jump on the AMD bandwagon? That's some sound advice.
Well after the fix, your machine will run upto 30% slower. Might as well. Most people upgrade for less than that. Imagine if your a gamer and you took that kind of hit. Imagine if you were Intel and your rival had a cpu that out did yours by a significant margin and you have already spent years on design and implementation. So your engineers and coders come up with some magic and voila you can claim No1 spot. Imagine 10 yrs of excess profits fooling your customers. No one likes to be played for a sucker except those that were suckered and will still support Intel. I would like rebate on my chip as soon as possible after a class action lawsuit.
 
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Well, if the SEC wants to show it's strength, they might fine him a few hundred thousand. That will certainly scare future people from profiting millions illegally!
 
"What did you know and when did you know it?" will likely be key testimony in the probable upcoming SEC investigation. As CEO, hard to believe he wasn't notified early in the process after Intel was told by Google and others about the problem. Add to that the fact he sold all but the Intel mandated minimum holding and the bad appearance factor is very high. People on the BoD better have their attorneys on speed dial as well. One of the BoD's prime functions is oversight of the folks with 'Chief' in their title.
 
So everyone should just dump what they've already purchased and jump on the AMD bandwagon? That's some sound advice.

I'm not advocating dumping, but giving it come consideration on your next build.


If you are still willing to support criminals at that time, then do so.
 
He'll get off 100% clean. Laws very rarely apply to the super rich.
 
Not sure if it has been mentioned but there is very likely not a problem with this. My experience in the corporate world is that these stock sales are often planned months in advance and usually done fairly regularly.
 
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