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> That shade is a reference to the Equifax execs who sold around $1.8 mil in company stock after Equifax discovered the breach — but before it alerted the publ

> That shade is a reference to the Equifax execs who sold around $1.8 mil in company stock after Equifax discovered the breach — but before it alerted the public. According to CNBC, this is false information. The insiders who sold claimed to be unaware of the breach at the time of the sale and also the sale was scheduled beforehand.

skellera 9y ago
Claims can be made and the apparent filing was never done for it to be scheduled. There's no way a breach like that is discovered and the upper management/execs aren't notified. They are going to try and push hard to get that narrative in people's heads. We'll know the truth when it gets investigated.
green423 9y ago
Are you saying it is false that 1.8mil in stock was sold or that the execs didn't know about the leak? What is your source for this being a 10b5-1 scheduled sale I heard on CNBC a reporter accidentally misspeak (it was clear that she did) and say that it was scheduled but from CNBC website it was not: "The sales don't appear to be the type of regularly scheduled incremental sales that insiders typically use when selling their company holdings" https://www.cnbc.com/2017/09/08/suspect-trading-in-equifax-options-before-breach-might-have-generated-millions-in-profit.html https://www.cnbc.com/2017/09/08/suspect-trading-in-equifax-o... And Bloomberg has also looked at the filings and said that it is not: "none of the filings lists the transactions as being part of 10b5-1 scheduled trading plans." https://www.bloomberg.com/news/articles/2017-09-07/three-equifax-executives-sold-stock-before-revealing-cyber-hack https://www.bloomberg.com/news/articles/2017-09-07/three-equ... These are the 3 Form 4 filings for the stock sales from the execs: https://www.sec.gov/Archives/edgar/data/33185/000089924317019702/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/33185/00008992431701... https://www.sec.gov/Archives/edgar/data/33185/000089924317019692/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/33185/00008992431701... https://www.sec.gov/Archives/edgar/data/33185/000089924317019691/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/33185/00008992431701... For reference here are two filings for when stocks are sold with a 10b5-1 secluded sale plan where you see in the footnotes the sale is a 10b5-1 scheduled sale: https://www.sec.gov/Archives/edgar/data/1564408/000120919117049307/xslF345X01/doc4.xml https://www.sec.gov/Archives/edgar/data/1564408/000120919117... https://www.sec.gov/Archives/edgar/data/1325214/000148024814000162/xslF345X03/edgar.xml https://www.sec.gov/Archives/edgar/data/1325214/000148024814... For reference on the footnotes of the Form 4 filings: "A 10b5-1 plan must be established through a third party, but does not need to be filed with the SEC. The only way we get to learn that a transaction is planned is by examining footnotes on the Form 4 filings for references to 10b5-1" https://blog.form4oracle.com/2009/09/29/10b5-1-plan-planned-insider-purchases-and-sales/ https://blog.form4oracle.com/2009/09/29/10b5-1-plan-planned-...

skellera 9y ago

Claims can be made and the apparent filing was never done for it to be scheduled. There's no way a breach like that is discovered and the upper management/execs aren't notified. They are going to try and push hard to get that narrative in people's heads. We'll know the truth when it gets investigated.

green423 9y ago

Are you saying it is false that 1.8mil in stock was sold or that the execs didn't know about the leak? What is your source for this being a 10b5-1 scheduled sale I heard on CNBC a reporter accidentally misspeak (it was clear that she did) and say that it was scheduled but from CNBC website it was not: "The sales don't appear to be the type of regularly scheduled incremental sales that insiders typically use when selling their company holdings" https://www.cnbc.com/2017/09/08/suspect-trading-in-equifax-options-before-breach-might-have-generated-millions-in-profit.html https://www.cnbc.com/2017/09/08/suspect-trading-in-equifax-o... And Bloomberg has also looked at the filings and said that it is not: "none of the filings lists the transactions as being part of 10b5-1 scheduled trading plans." https://www.bloomberg.com/news/articles/2017-09-07/three-equifax-executives-sold-stock-before-revealing-cyber-hack https://www.bloomberg.com/news/articles/2017-09-07/three-equ... These are the 3 Form 4 filings for the stock sales from the execs: https://www.sec.gov/Archives/edgar/data/33185/000089924317019702/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/33185/00008992431701... https://www.sec.gov/Archives/edgar/data/33185/000089924317019692/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/33185/00008992431701... https://www.sec.gov/Archives/edgar/data/33185/000089924317019691/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/33185/00008992431701... For reference here are two filings for when stocks are sold with a 10b5-1 secluded sale plan where you see in the footnotes the sale is a 10b5-1 scheduled sale: https://www.sec.gov/Archives/edgar/data/1564408/000120919117049307/xslF345X01/doc4.xml https://www.sec.gov/Archives/edgar/data/1564408/000120919117... https://www.sec.gov/Archives/edgar/data/1325214/000148024814000162/xslF345X03/edgar.xml https://www.sec.gov/Archives/edgar/data/1325214/000148024814... For reference on the footnotes of the Form 4 filings: "A 10b5-1 plan must be established through a third party, but does not need to be filed with the SEC. The only way we get to learn that a transaction is planned is by examining footnotes on the Form 4 filings for references to 10b5-1" https://blog.form4oracle.com/2009/09/29/10b5-1-plan-planned-insider-purchases-and-sales/ https://blog.form4oracle.com/2009/09/29/10b5-1-plan-planned-...