FILE - In this July 20, 2011 file photo, Intel corporate offices are seen in Santa Clara, Calif. Intel says it’s working to patch a security vulnerability in its products but says the average computer user won’t experience significant slowdowns as the problem is fixed. The chipmaker released a statement Wednesday, Jan. 3, 2018, after a report by British technology site The Register caused Intel stocks to trade lower.(AP Photo/Ben Margot)

Intel CEO sold shares before chip security flaw disclosed

January 04, 2018 - 6:32 pm

SANTA CLARA, Calif. (AP) — Government filings are showing that Intel's CEO sold shares in his company several months after Google informed the chipmaker of a serious security problem affecting its products.

CEO Brian Krzanich sold about $39 million in stocks and options in late November, before the security vulnerability was publicly known.

The company didn't respond to inquiries about the timing of Krzanich's divestments.

Intel says it was notified about the bugs in June and has worked with other companies to verify the vulnerability and develop ways to fix or mitigate it. It says it planned to publicly disclose the problem next week. It was forced to address it earlier because of a Wednesday news report.

GBH Insights Chief Strategy Analyst Daniel Ives says Krzanich's stock sale was "cookie cutter" and not a concern.

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