Intel CEO Section re-odd Intel CEO Section re-odd Intel CEO Section re-odd sold in the company on November 29 last year, the company's stock, which is the company that chip defects nearly six months after the flaws may allow hackers to get Intel and other companies to create On-chip user data. Regulatory documents show that SEC shares and exercised options totaled $ 39 million, making it nearly $ 25 million profitable.
Intel shares soared as news of the company's chip security flaws hit until last week that the first security flaw, called 'Meltdown,' affected Intel chips and hackers bypassing user and computer memory Hardware barrier, which may allow hackers to read the computer's memory and steal passwords.The second is called 'specter', it will affect Intel, AMD and ARM chips, and allows hackers to those who have no errors The application translates into a leaked secret.
Intel last week admitted in a report that its chip design flaws may allow hackers to steal data from the computer equipment.However, the Intel CEO Co-odd said later that the public security vulnerability is easy to repair, at least in the computer This is the case with servers, which they are currently doing, and Intel said it expects to patch up to 90% of the computers released in the last five years by the end of the week.
Lawyers specializing in securities at Regal Law Firm said the timing of SEC's shares was "very weird" and the timing, size and unusual nature of the offering will result in a large number of reviews compared to the previous sale .
In addition to exercising over $ 28 million in stock options, Covey cut his unrestricted shares by nearly 50% to 250,000 shares, exactly the amount of shares he must hold as an Intel CEO. This is unusual for a CEO.
The offering is made in accordance with the Securities and Exchange Commission (SEC) regulations, which allow executives and listed companies' directors to arrange for a specific number of shares to be scheduled for sale at a given time, but securities experts say when insiders have the potential to influence In the case of undisclosed information on shares, the law prohibits insiders from carrying out such transactions.
An Intel spokesman said SEC's sale of shares is not related to chip security issues and that the sale is based on a pre-arranged transaction plan, the 10b5-1 plan, which many executives use to sell stock early to avoid being Accused of making use of inside information.
Regulatory filing documents show that Section re-odd is in the share sale transaction occurred about a month before the October 30 sale plan, as far as June Intel chip loopholes in the knowledge of the problem.
Intel did not disclose when Keqinqi was informed of chip loopholes, but also reluctant to further comment on the matter.
Analysts said the U.S. regulators are expected to investigate whether SECK's transactions violate the rules of internal transactions, though such cases are hard won.
SEC spokesman declined to comment.