Wait a sec, I would do the same if I knew there will be bad news coming but again - I would be worried about possible insider trading charges... Thats beyond Intel's CoC b---s--- - its dealing with government regulations. Is such selling legal?
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CEOs sell stock for all kinds of reasons: diversification, liquidity, financing a big purchase. But that's a massive amount of stock that Krzanich dumped, and holding the minimum isn't a great look.
"In all the years I've been at this and of all the companies I've covered, I can't recall another single massive sale on this scale," Rasgon said.
Krzanich sold stock 18 times in 2016, but none of those sales approached the size of his 2017 year-end cash-out. He ended 2016 with 18,000 more shares than he started.
The timing of the November sale doesn't look great either.
"He's an engineer; he can do math," said Stacy Rasgon, an Intel analyst at Sanford Bernstein. "This is not an incredibly bullish statement regardless of the security stuff."
The funny thing is Intel (INTC) seemed to be in the middle of a turnaround. The company had a wildly successful 2017. The stock soared 27% after a solid summer quarter. Analysts are bullish: More than half call Intel a "buy," and just one in eight holds a negative outlook for the stock.
Krzanich himself was optimistic in his year-end message to employees. He said 2017 would be a record year and 2018 would mark the year Intel put the slumping PC market in the rearview mirror, according to Intel spokeswoman Cara Walker.
Yet on October 30, just three days before Intel's stock reached its 2017 peak, Krzanich announced a plan to sell 245,000 of his own shares by November 29. That left him with just 250,000 -- the fewest he's allowed to hold under his contract with Intel.
Krzanich had been selling stock all year. Bit by bit, he sold shares 21 times during 2017, but his largest sale by far was his last, when he dumped $50 million worth of stock: $28 million in just-vested options plus $22 million worth of Intel shares he had previously owned.
CEOs sell stock for all kinds of reasons: diversification, liquidity, financing a big purchase. But that's a massive amount of stock that Krzanich dumped, and holding the minimum isn't a great look.
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http://money.cnn.com/2018/01/04/technology/business/brian-krzanich-intel-shares/index.html
Any CEO who sells to the bare limit allowed by his company as the stock hits a multi year high with inside knowledge of 10nm and chip flaws and what 2018 and 2019 looks like knows it’s a FUBAR and to actually do it shows how stupid he really is, what a Gump/Trump is BK
"does this smell like confidence in the company?"
Or, could be that he is scared in the pants that his CEO days are numbered, so cash the stock, while waiting for the golden parachute?
-889878 shares in the last year does this smell like confidence in the company? http://www.nasdaq.com/symbol/intc/ownership-summary
@hfu -- hes your ceo, i quit in august i took the 55 early retirement. and got the same job elsewhere.
Fire him
BK got rid of all the senior guys that made Intel great. He is a greedy fock: what can you say! Practically starving those who remain (reorgs, no focal increase, bringing cheap labor) so he can save his a**
fire brian, this guy is toxic to intel, i have never seen a more demoralozed and cyn9jcal workforce at intel.
What kind of guy leads a company gets millions in pay, tens of million in bonus and stock.
Has the stock at record high, sells all he got that he can legally while he has full knowledge of the FUBAR that will tank the company in 2018.
What a admirable leader intel has! Can you see Gordon, Bob or Andy acting like this?
LOL
This is the level of confidence from our CEO
Mediocre school, LOL, the school he graduated from we don’t consider even for technician recruit, unless URM 😂😂😂😂😂😂
The Buffoon Klown never had much credibility to begin with, being a fab monkey with a measly BS from a mediocre school. Whatever credibility he had, it totally evaporated during and after 2016 ACT. Now he is a criminal as well, and should be behind bars, not running a Fortune 500 company. LOCK HIM UP!!!
https://www.fool.com/investing/2017/12/19/intels-ceo-just-sold-a-lot-of-stock.aspx
Interesting indeed, no confidence from CEO
Is that even legal?