After Meltdown and Spectre revelation, questions arise about timing of Intel CEO’s stock sales

After Meltdown and Spectre revelation, questions arise about timing of Intel CEO’s stock sales

6 years ago
Anonymous $1bh8zaeyQS

https://techcrunch.com/2018/01/04/after-meltdown-and-spectre-revelation-questions-arise-about-timing-of-intel-ceos-stock-sales/

The timing of Intel CEO Brian Krzanich’s large sale of shares in November is raising questions because a Securities and Exchange Commission filing appeared to show that the transactions were planned after the company was informed about the Meltdown and Spectre bugs, but before they were made public.

The shares were sold in accordance with a SEC Rule 10b5-1 plan, which is intended to prevent illegal insider trading by allowing company executives to create predetermined, automatic selling plans. The Form 4 filed by Krzanich, however, state that the plan was adopted on October 30, 2017—months after Google says it informed Intel and other affected companies about the bugs in June, which in turn were only made public this week in reports by The Register and other media.