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The sales were part of a prearranged executive stock sale plan, known as a 10b5-1 program, that Becker filed with the SEC... Jan. 26
by sp332 4y ago
The sales were part of a prearranged executive stock sale plan, known as a 10b5-1 program, that Becker filed with the SEC... Jan. 26
- swyx 4y agoseriously, this is the cheapest clickbait and fortunately nobody important is making a big story out of this.
- mackman 4y agoYou really don’t think he knew this was coming six weeks ago?
- delfinom 4y agoHe has been regularly selling stock for years Here are the SEC records which are public records: https://www.sec.gov/edgar/search/#/ciks=0001259867&entityName=BECKER%2520GREGORY%2520W%2520(CIK%25200001259867) https://www.sec.gov/edgar/search/#/ciks=0001259867&entityNam...
- AdamJacobMuller 4y agoI'm sure he knew things were in trouble (seems like they knew there was trouble for probably the past year or so) but I'm equally sure he thought the situation was salvageable probably up until the moment the FDIC walked in the door and maybe even now he thinks it could have been saved if they hadn't intervened.
- sp332 4y agoEveryone else could see his plan to sell for the last six weeks.
- __derek__ 4y agoIt was "prearranged" by one month. This honestly just demonstrates how easy it is to game 10B5-1 plans. I submitted this guy's newsletter separately, but it appears that SVB also lacked a Chief Risk Officer for most of 2022 and failed to explicitly disclose that until March 8 (i.e. two days ago).[1] It all looks pretty shady. [1]: https://nongaap.substack.com/p/sivb-held-to-mortem-governance https://nongaap.substack.com/p/sivb-held-to-mortem-governanc... (submission: https://news.ycombinator.com/item?id=35098617 https://news.ycombinator.com/item?id=35098617)
- marymkearney 4y agoYes, this, thanks. The missing Chief Risk Officer is an issue. It's not necessarily nefarious, but the optics aren't great either. Edited to not repeat what you said. :)