Intel CEO share dump 'unrelated' to processor flaws

All iOS and Mac devices affected by Meltdown and Spectre Apple confirms

Intel CEO share dump 'unrelated' to processor flaws

The bugs, known as Meltdown and Spectre, could allow programs to steal data from the memory content of a computer, potentially exposing passwords, personal photos, emails, instant messages and even business-critical documents.

Intel said Thursday it originally wanted to publicly disclose the problem with its micro-processors next week, but was forced to address it earlier because of media reports featuring the vulnerabilities.

In this case, Krzanich set up the plan just a month before the shares were sold, in the period between Intel's initial discovery of the exploit, but before its public disclosure.

To avoid charges of trading on insider knowledge, executives often put in place plans that automatically sell a portion of their stock holdings or exercise some of their options on a pre-determined schedule, typically referred to as Rule 10b5-1 (c) trading plans.

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Intel released a statement to insist there was no impropriety, saying the sale was "unrelated" and that he "continues to hold shares in line with corporate guidelines". It closed down $1.59, or 3.4%, to $45.26.Some on Wall Street think that Intel's loss could mean gains for rivals: AMD and Nvidia could use it as a marketing edge.

In fact, Kzranich's $24 million sale leaves him with about 250,000 shares, which just so happens to be the minimum ownership stake he is required to have in the company per his contract.

As you've likely heard by now, the biggest tech story of the week involves security researchers from Google Project Zero unearthing a series of new vulnerabilities that impact every Intel processor ever shipped going back more than a full decade.

According to the Form 4, Krzanich held 495,743 shares before making the transactions listed in the filing. Intel's CEO saw a $24 million windfall November 29 through a combination of selling shares he owned outright and exercising stock options.

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If you want to put things into perspective, despite the fall in Intel's share price this week; it's still trading much higher than when Krzanic sold his shares in November a year ago.

An SEC representative refused to comment on whether or not the commission was looking into the sale. His decision to set up that plan was "unrelated" to information about the security vulnerability, the representative said.

However, according to the SEC filing, Krzanich only put that plan in place on October 30, 2017, meaning he knew about Meltdown and Spectre.

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A Buckingham Palace spokesman said: 'The Queen and members of the royal family were very pleased to hear this news'. The saving grace for us has been Mia ... however down we feel, she will come running up in our faces'.

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