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CEO Greg Becker offloaded over $3.5 million worth of stocks - which amounted to nearly 12,500 shares - in a pre-planned, automated sell-off on February 27, according to a US Securities and Exchange Commission filing.
Greg Becker in 2015 asked Congress reduce the oversight of banks of his size. He won the argument three days later. On Friday the bank where he was president, SVB, collapsed.
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
CEO Gregory Becker sold over 12,000 shares for $3,578,652.31 on February 26, while the CFO sold $575,180 in stocks in a separate transaction on the same day.
He used a trading strategy that he had set up on January 26 to carry out the trades through a trust that he manages, according to the papers.