Silicon Valley Bank CEO sold $3.57 million in stock 2 weeks before collapse

By Jen Krausz on
 March 12, 2023

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.