SVB execs sold $84 million in stock over the past 2 years, stoking outrage over insider trading plans
Publishing timestamp: 2023-03-14 17:24:56
Summary
SVB CEO Greg Becker and other executives have sold millions of dollars worth of stock over the past two years, raising questions about insider trading. Becker sold nearly $30 million of stock, including $3.6 million just days before the bank disclosed a large loss that triggered a stock slide. SVB executives and directors cashed out of $84 million worth of stock over the past two years. The sales have sparked criticism of SVB's management and the broader phenomenon of insider stock sales before major declines. The SEC has created new rules to increase transparency and impose a cooling-off period between filing and first sale.
Sentiment: NEGATIVE
Keywords: svb financial group, business news, gary gensler, sec, ontrak inc, investment strategy, markets, wealth,