Mastodawn

Robert Reich Mar 11, 2023

Gary Becker, CEO of the Silicon Valley Bank that failed Friday, sold $3.6 million of his own shares in the bank Thursday.

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Paul Chambers🚧Mar 11, 2023

@rbreich

The sales were pursuant to a Rule 10b5-1 trading plan entered into by him effective January 26, 2023.

With it being such a new plan, I wonder if he was aware it was crumbling back then?

Rule 10b5-1 plans are supposed to trigger sales independent of current happenings, indifferent to insider information.

It's so recent, though.

The SEC Filings:
🔗 Gregory Becker: https://www.sec.gov/Archives/edgar/data/1259867/000156218023002056/xslF345X03/primarydocument.xml

🔗 Daniel Beck https://www.sec.gov/Archives/edgar/data/719739/000156218023002059/xslF345X03/primarydocument.xml

SEC FORM 4

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LAUREN

@paul @rbreich He knew. So did others. I think he knew three interest hikes ago. We are going to find out that this industry was bleeding money for the last six months.