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

darrpara said:
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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The sale was scheduled at the end of October

Google informed Intel of the vulnerability back in June.

He certainly traded on insider information, and deserves to rot in prison for his crimes.
 
Their stock isn't even below what it was on Oct 30 yet, can you proletarian scum take down your barricades already?
 
spintroniX said:
The sale was scheduled at the end of October

Google informed Intel of the vulnerability back in June.

He certainly traded on insider information, and deserves to rot in prison for his crimes.
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You know he certainly traded on insider information? Do you have some inside information that the rest of us don't? While it is easy to speculate that he sold shares based on inside information before the information became public, no one knows what actually happened. One, you would have to define exactly when the information became public. The general public actually knowing about it is not the same as the information going public. Sometimes it is enough to bury the information down somewhere in a quarterly report with a simple mention to claim it was public.

This actually happens quite a lot. I used to work on a system that converted documents and filed them with the SEC. All those documents are considered public when they are filed. A lot of those documents list a whole bunch of stuff that the general public doesn't know because they don't bother reading all of it. Like the fact that Vice President's of a company are getting a salary of 350k a year while getting an automatic bonus of 350k and a performance bonus of up to 1.5 million.

Also Intel getting information from Google about a hardware bug is not the same as the CEO learning about it. CEOs often do not know every little detail going on. It is reasonable to assume by October he should have known though. However, it is also reasonable to assume when he first put the stock sale plan in, they had intended to make the information public. There are many factors involved.

Personally I would lean towards the fact that he was likely doing insider trading, but is unlikely to get more than a slap on the hand for it. However, there is no way yet to know for certain without more information.
 
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Yea, it'll be hard to prove he did it knowingly, just like with Equifax execs.
 
Vader1975 said:
I couldn’t stop laughing. The Jeff Sessions (corporate owned) Justice Department going after him? Im dying here lolol
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I'm not talking about the current state of the government, I'm talking about anytime, they don't usually go after any CEO. Its just me making comments on how jacked our system is.

Also fixed the last name for ya.
 
OldBuzzard said:
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.
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I dumped Intel this year but I had the money and inclination. By this logic nobody should drive a Chevy since the Cobalt killed dozens if not hundreds of people.
 
Seems fishy as heck.

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
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I'm guessing that you can cancel it or push it to the next scheduled date? That's actually a pretty big loophole.

Schedule a large sale of stock on the end of every month at the beginning of the year (well in advance). If nothing comes up, cancel the order. If something comes up, don't cancel it. You're technically not acting (via inaction) on insider information.
 
Imhotep said:
Why do you people hate. Who gives a shit. All of us being in his position would have done the same exact thing.
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As someone who's had to sign agreements concerning insider trading at many, many places I've worked I can honestly say this isn't true. No amount of money is worth rotting in Federal Ass Pound Prison.

That said, if and only if there were automated, regular stock sales planned in advance as some here have suggested, that's fine. That I'd have done and I wouldn't have modified the amount I'd sell or do anything beyond what I could prove was already in motion months ahead of time.
 
SomeoneElse said:
I'm not talking about the current state of the government, I'm talking about anytime, they don't usually go after any CEO. Its just me making comments on how jacked our system is.

Also fixed the last name for ya.
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You responded to part of the problem. Radical elements on one side have been coaxed and encouraged for years, to the point they causing a counter radical element on the other side to emerge. And hiding behind this division, the ruling class safely rules.

It's what the Brits use to do in their empire. They would do it along ethnic lines. Its not a coincidence the Pakistanis were put at odds with the people of India to the point the country had to be divided. The whites vs. the Blacks in South Africa. The Jews vs. the Arabs, Persians, etc in the Middle East. The French Canadians vs. the English Canadians. The early Colonists vs. the Native Americans. They pit two sides against each other and made themselves necessary for order while not being the target of resentment by either, usually.
 
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He still has 250 000 shares, as of today that is still over 11 million. Sheesh. I wish i got stock options with my engineering firm, these CEO compensation packages are truly ridiculous.
 
The only reason he still has those shares is that his employment contract requires him to have them.

If that wasn't the case he would have probably dumped them as well.
 
jpm100 said:
You responded to part of the problem. Radical elements on one side have been coaxed and encouraged for years, to the point they causing a counter radical element on the other side to emerge. And hiding behind this division, the ruling class safely rules.

It's what the Brits use to do in their empire. They would do it along ethnic lines. Its not a coincidence the Pakistanis were put at odds with the people of India to the point the country had to be divided. The whites vs. the Blacks in South Africa. The Jews vs. the Arabs, Persians, etc in the Middle East. The French Canadians vs. the English Canadians. The early Colonists vs. the Native Americans. They pit two sides against each other and made themselves necessary for order while not being the target of resentment by either, usually.
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It's the divide and conquer technique and they have been clearly using that through the last year. Which the media had spear headed, a lot of people don't even realize that.
 
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Imhotep said:
Why do you people hate. Who gives a shit. All of us being in his position would have done the same exact thing.
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WRONG.

Who was it who said "America's poor don't see themselves as poor, they see themselves as temporarily embarrassed millionaires."
 
SomeoneElse said:
It's the divide and conquer technique and they have been clearly using that through the last year. Which the media had spear headed, a lot of people don't even realize that.
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The last year? Try "since forever." It definitely seems to have intensified of late, though. :(
 
NoOther said:
You know he certainly traded on insider information? Do you have some inside information that the rest of us don't? While it is easy to speculate that he sold shares based on inside information before the information became public, no one knows what actually happened. One, you would have to define exactly when the information became public. The general public actually knowing about it is not the same as the information going public. Sometimes it is enough to bury the information down somewhere in a quarterly report with a simple mention to claim it was public.

This actually happens quite a lot. I used to work on a system that converted documents and filed them with the SEC. All those documents are considered public when they are filed. A lot of those documents list a whole bunch of stuff that the general public doesn't know because they don't bother reading all of it. Like the fact that Vice President's of a company are getting a salary of 350k a year while getting an automatic bonus of 350k and a performance bonus of up to 1.5 million.

Also Intel getting information from Google about a hardware bug is not the same as the CEO learning about it. CEOs often do not know every little detail going on. It is reasonable to assume by October he should have known though. However, it is also reasonable to assume when he first put the stock sale plan in, they had intended to make the information public. There are many factors involved.

Personally I would lean towards the fact that he was likely doing insider trading, but is unlikely to get more than a slap on the hand for it. However, there is no way yet to know for certain without more information.
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Yeah come on, give these guys a break! After all, it's not like Intel has ever been found breaking the law before or anything...
 
Damn, that's how you stay rich.

1. Have insider information
2. Sell millions of stock high
3. Pay off people to stay out of prison
4. Buy back millions at rock bottom price
5. Still be CEO

Life is good for the uber rich.

What's next for him? President?
 
tetris42 said:
Yeah come on, give these guys a break! After all, it's not like Intel has ever been found breaking the law before or anything...
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Pretty sure I never said anything about giving him a break. Just commented on the certainty aspect. So many people today are certain something happened that they really have no information on.
 
You guys realise that $24 million to Intel's CEO is like a $20 bill to normal average Americans. If this was insider trading, it was really, REALLY poorly done.
 
At least someone may be committing a crime in this country for once that has no "you're racist" for objecting to the committing of the crime.
 
KazeoHin said:
You guys realise that $24 million to Intel's CEO is like a $20 bill to normal average Americans. If this was insider trading, it was really, REALLY poorly done.
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I highly doubt that since his net worth is estimated at below 100 million. Meaning that 24 million is about a quarter of his entire net worth. That is a pretty large chunk of change. Unless you are telling us your networth is only $80.
 
SilverSliver said:
True, but look at how many shares.
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Oh no doubt it is more than usual but it fits a pattern. I don't know a lot about stocks but how I am reading the listing it looks like he sells and immediately has a buy option placed after the sale for 50-60% of what was sold. it is a larger than usual amount (previous largest was 200k) but it is a consistent pattern of sales and buy options.
Again I might be interpreting that listing wrong, I know basically nothing about stocks.
So it might not be anything nefarious.
 
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