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Intel’s CEO sold a ton of stock “unrelated” to knowledge of major chip flaw

Intel’s CEO sold a ton of stock “unrelated” to knowledge of major chip flaw
[Photo: Justin Sullivan/Getty Images]

The company’s CEO, Brian Krzanich, dumped 245,743 shares of his company’s stock–worth around $11 million–at the end of November, which is right when developers were rushing to fix the major security flaw found in some of the company’s chips, reports the Motley Fool. The chip flaw was not disclosed publicly until yesterday. While the optics of the large stock dump by the person running the company the same month it reportedly discovered the flaw doesn’t look good, this probably isn’t a case of shady insider trading. Intel told Gizmodo that Krzanich’s stock sale was “unrelated” to the chip discovery and “was made pursuant to a pre-arranged stock sale plan (10b5-1) with an automated sale schedule.” In short, Krzanich was always scheduled to sell the stock at the time he did, regardless of any specific goings-on at the company.MG