Silicon Valley Bank CEO and President Greg Becker seems to have given himself a golden parachute right before the bank collapsed, selling $3.57 million in stock two weeks prior to its shutdown.
Becker sold the stock at $287.42 per share; at the time of the collapse, the stock price was $39.49.
He also sold the same amount of stock options at $105.18 per share.
The bank's CFO, Daniel Beck, sold $555,000 in stock the same day Becker sold his.
The FDIC has now seized the bank's assets, valued at $209 billion ahead of the collapse.
Some of the sales were preplanned and executed as part of a trust.