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intel ceo’s stock sale called unusual by private securities specialists

intel ceo’s stock sale called unusual by private securities specialists News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



intel ceo’s stock sale called unusual by private securities specialists

the sale of intel corp. intc -1.69% stock by chief executive brian krzanich while the company was handling concerns about security flaws in its chips was a highly unusual move that risked attracting regulatory scrutiny, according to lawyers and analysts who follow executive stock sales.the trade took place on nov. 29, nearly six months after intel was informed about the vulnerabilities, which could enable hackers to access user data in chips made by intel and others. mr. krzanich sold shares and exercised stock options valued at a total of $39 million, netting him nearly $25 million, according to regulatory filings made at the time.word of the security flaws didn’t become public until last week, sending intel’s shares down.the timing of mr. krzanich’s sale “is really odd,” said dan o’connor, an attorney specializing in securities with the law firm ropes & gray. “the timing, the size, the unusual nature compared to prior sales—that’s going to get this a lot of scrutiny.”the trade took place under a u.s. securities and exchange commission rule that allows officers and directors of public companies to prearrange sales of specific numbers of shares at particular times. the rule prohibits insiders from setting up such transactions while possessing undisclosed information that might affect the stock price, mr. o’connor and other securities experts said.intel...