And just as an aside - keep in mind Greg Becker was not only the CEO of SVB, but also on the Federal Reserve Bank of San Francisco [0]. It also appears he very

And just as an aside - keep in mind Greg Becker was not only the CEO of SVB, but also on the Federal Reserve Bank of San Francisco [0]. It also appears he very well knew the loophole he was abusing [1]: "Silicon Valley Bank Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that led to its failure. The sale of 12,451 shares on Feb. 27 was the first time in more than a year that Becker had sold shares in parent company SVB Financial Group, according to regulatory filings. He filed the plan that allowed him to sell the shares on Jan. 26." ...and... "“While Becker may not have anticipated the bank run on Jan. 26 when he adopted the plan, the capital raise is material,” said Dan Taylor, a professor at the University of Pennsylvania’s Wharton School who studies corporate trading disclosures. “If they were in discussion for a capital raise at the time the plan was adopted, that is highly problematic.”" Apparently the new rules go into effect on April 1st. How convenient, and ironic. [0] https://news.bloomberglaw.com/bankruptcy-law/svb-ceo-no-longer-on-san-francisco-feds-board-after-bank-fails https://news.bloomberglaw.com/bankruptcy-law/svb-ceo-no-long... [1] https://www.bloomberg.com/news/articles/2023-03-10/svb-chief-sold-3-6-million-in-stock-days-before-bank-s-failure https://www.bloomberg.com/news/articles/2023-03-10/svb-chief...