7/103 sources · 3 publishersUpdated Nov 5, 05:26 UTC
Intel CEO Buys $9.71 Million of Shares Amid Sharp Selloff
Intel CEO Lip-Bu Tan purchased 150,000 common shares through a family trust on November 2 for about $9.71 million, according to an SEC filing published November 4. The trust's holdings rose to 1,464,669 shares after the transaction. Intel shares closed at $58.27 on November 4, down 3.77%, so the purchase did not immediately reverse the decline.
Why it matters
The transaction increased the CEO's indirect ownership but did not provide immediate support for Intel's share price. The purchase price was above the November 4 close, leaving the newly acquired shares below their entry value at that point.
Key facts
- 1Tan bought 150,000 Intel common shares on November 2 at a weighted average price of $64.7312 per share for about $9.71 million. finance.biggo.com
- 2The family trust held 1,464,669 Intel shares after the purchase, an increase of about 11.4%. finance.biggo.com
- 3Intel closed November 4 at $58.27, down $2.28, or 3.77%. finance.biggo.com
- 4The shares were down 54.26% from the September 24 closing high of $127.39. finance.biggo.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.