Intel CEO sold $24 million worth of shares before Chip Vulnerability
06 Enero, 2018, 01:15 | Author: Enrique Watson
However, given the recent revelation that Intel processors are plagued by a major security flaw that put millions of machines at risk, the timing of the sale has raised suspicions for some that the CEO sold off his stock before the public could learn of the bugs.
Intel CEO Brian Krzanick reportedly sold $24m (£18m) worth of company stock and options in November 2017 after learning about Meltdown and Spectre - the two related major security vulnerabilities that affect almost every Intel chip processor in the world.
While Intel claims that the stock sale was part of a planned divestiture, Krzanich (below, right) put the plan in place only in October, the report said. Such plans are regularly used by company executives to establish automated stock sale calendars, so as to eliminate accusations of insider trading. Krzanich "continues to hold shares in line with corporate guidelines". It closed down $1.59, or 3.4%, to $45.26.Some on Wall Street think that Intel's loss could mean gains for rivals: AMD and Nvidia could use it as a marketing edge. But Intel's own CFO was targeting Intel's stock price hitting $60 per share by 2021, and Krzanich offered his own similarly bullish take in February of 2017.
A report in Business Insider said an Intel representative had told it that Google had informed the processor maker about the flaws - dubbed Meltdown and Spectre - in June 2016.
A representative for the Securities and Exchange Commission declined to comment on whether it was looking into the stock sales. The security researchers at Google Project Zero opened the box of Pandora when they found out about a slew of new vulnerabilities that have impacted every Intel processor shipped over a decade. This is especially true since other Intel stockholders had a nightmare on Wednesday, with more than $11 billion in shareholder value wiped out. Then on the same day, Krzanich made two additional transactions in which he sold a total of 245,743 shares-and this brought his total remaining shares down to exactly 250,000.
October 30, 2017: Krzanich again changes the terms of his Rule 10b5-1 trading plan.
We are calling it fishy because this week we learned about massive security flaw on Intel chips. The shares of Intel witnessed a slight drop ever since the news of security flaw came out in public, it is now being traded at around $44.23.
Global music sensation. "That sort of stuck with me". "I started to think about Justin Bieber and people like that", Kastner said. Even if not everyone is ready to catch Bieber fever, he hopes they'll understand why the museum thinks this exhibit makes sense.
The crash, to the west of the city of Luxor, happened due to bad weather conditions, the news agency said, according to Reuters. In 2013, 19 tourists were killed when a hot air balloon caught fire in Luxor.
The new baby will be The Queen and Duke of Edinburgh's seventh great-grandchild, and will be Princess Anne's fourth grandchild. In her Christmas speech, the Queen said her family "look forward to welcoming new members into it next year".
These protests were followed on Saturday and Wednesday by large demonstrations in support of the government. At least 36 people were killed, according to an official toll, while the opposition says 72 died.
The Netflix show has already announced that British actress Olivia Colman will play Queen Elizabeth II . The feelings we all have as 50-year-olds are different than the feelings we all have as 30-year-olds.
Closeout sales at the affected locations will begin next week with all 103 locations shuttered by May. Liquidation sales will start as early as January 12 at the stores closing.
How drinking alcohol 'snaps' DNA, raising your cancer risk
The researchers found that acetaldehyde snaps the DNA of stem cells, permanently altering the genetic code and triggering cancer. The second line of defence involves a variety of DNA repair systems that allows cells to fix numerous different types of damage.
Lukaku lift for Manchester United ahead of FA Cup tie
Manchester United are reportedly considering including one of their stars in a swap deal for a Serie A midfielder. Rest for Manchester United is coming, but not until after tonight's third round FA Cup clash with Derby County .
El niño que llevó a Movimiento Ciudadano de antro
Nada se tardó este año nuevo en regalarnos el primer fenómeno viral del 2018: el spot de Movimiento Ciudadano . El video cuenta, al momento de esta nota, con más de dos millones de reproducciones en YouTube .
Alfredo Casero bancó a Facundo Arana y Calu Rivero
El actor avaló el profesionalismo de Juan, con quien trabajó en dos ocasiones y dijo que seguramente Calu se sintió acosada. Con respecto a lo de Darthes, no volvió a emitir juicio alguno y dejó el tablero de juego tal como estaba .