Signature Bank (SBNY)

[UpTickMeA$AP]

Signature Bank Insiders Sold $100 Million in Stock During Crypto Surge

Sales went largely unnoticed by investors due to securities rules and filing method.

Insiders at collapsed Signature Bank SBNY -7.16%decrease; red down pointing triangle sold more than $100 million of shares in the years after the bank pivoted to attract cryptocurrency companies and became a stock-market darling, according to a Wall Street Journal analysis.

Sales over the past three years by the bank’s chairman, its former chief executive officer and his successor accounted for about half of the amount sold, according to the Journal’s analysis of company filings. All three served on the board committee tasked with overseeing the bank’s risk profile over the past year.

https://www.wsj.com/articles/signature-bank-insiders-sold-100-million-in-stock-during-crypto-surge-a9f77615