Executives at Silicon Valley Bank and First Republic Bank sold millions of stock right before the crash
Silicon Valley Bank CEO Greg Becker sold $3.5 million worth of stock on February 27, nine days beforeSEC filings
Becker sold his stock at $105.18 per share. Today, SVB stock remains halted but is essentially at zero afterFirst Republic Bank executives also managed to sell stock right before the crash. According to, First Republic's chief credit officer sold shares on March 6, two days before Silicon Valley Bank imploded and dragged down shares of other regional lenders.
A spokesman for Herbert told the Wall Street Journal that the stock sales were consistent with his annual estate planning.
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