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It appears as though he sold exactly the number of shares required to cover the cost of exercising options that were about to expire with his after-tax proceeds
by mikekij 4y ago
It appears as though he sold exactly the number of shares required to cover the cost of exercising options that were about to expire with his after-tax proceeds. This does not seem to me to be a nefarious transaction.
- rqtwteye 4y agoProbably not nefarious. It's still annoying that the big guys can make millions while running a company into the ground.
- mikekij 4y agoTo be clear, he likely has millions of shares of stock in SVB that are now worth exactly $0. He could end up being personally liable for SVB employee’s pay. In general, I too hate when the “rich people” win despite screwing up. This doesn’t appear to be that sort of situation.
- deleted 4y ago[deleted]