CEO of Silicon Valley Bank sold $3.57 million of stock before its dramatic collapse

The CEO of Silicon Valley Bank sold $3.57m of stock in a pre-planned, automated sell-off two weeks before it collapsed - and the CFO ditched $575,000 the same day. The price plunged to just $39.49 in premarket Friday before the Federal Deposit Insurance Corporation (FDIC) seized the bank's assets. SVB's CFO Daniel Beck (right) sold 2,000 shares at $287.59 per share on the same day as his boss. The price plunged to just $39.49 in premarket Friday before the Federal Deposit Insurance Corporation (FDIC) seized its assets. Before Becker's latest plan was executed, he last sold stock on December 1, 2021.