Intel execs to sell $80m shares
That's a lot of greenbacks
The champagne corks will be popping even more ferociously than normal in Satan Clara, after three top Intel geezers prepare to cash in shares worth a combined $80 million. Chipzilla's been having a rough time of it lately and - as any fule kno' - the best way to cure a dose of the blues is with a little retail therapy. So maybe that was the motivation behind the collective cashing in of chips (that's the casino variety) by Intel chairman Andy Grove, VP Albert Yu and another Intel director, Leslie Valdesz. The sale was reported in a release from the Securities and Exchange Commission (SEC) earlier this week, and picked up on by our friends at Electronic Buyers' News (EBN). Grove is offloading the lion's share of the err, shares, some 484,208 in all, which could net him a cool $50 million, based on Intel's closing price on 14 January, EBN said. Nice work if you can get it. Yu filed to sell 164,000 shares, and Valdesz 149,330. If the three amigos complete their sale, that too will be recorded by the SEC. ®
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