The CEO of Silicon Valley Bank sold $3.57m of stock in a pre-planned, automated sell-off two weeks before it collapsed - and the CFO ditched $575,000 the same day.Greg Becker sold 12,451 shares at an average price of $287.42 each on February 27. The price plunged to just $39.49 in premarket Friday before the Federal Deposit Insurance Corporation (FDIC) seized the bank's assets.The day his sale went through, Becker bought the same number of shares using stock options priced at $105.18 each, according to filings with the Securities and Exchange Commission. The options, which allow you to buy a company's stock at a set price, were due to expire May 2. The transactions were made through a trust that he controls, using a trading plan that he had set up on January 26, records show.
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