KLA Corp insiders cashed out $64M while stock slid 40%
AI semiconductor company KLA Corporation has slid 40% since June 30, shedding $160 billion in market capitalization, as its executives and other insiders have disclosed over $64 million worth of sales in SEC filings.
Although the company claims that most of these sales followed regularly scheduled trading plans as part of executive compensation packages, no insiders decided to make any open market purchases during that time.
- President Richard Wallace led the selling at $17.4 million
- CFO Bren Higgins sold $13.9 million
- Executive Vice President Brian Lorig and Officer Mary Beth Wilkinson each sold more than $12 million
- President of Semiconductor Products Ahmad Khan sold $6.6 million
- Senior Vice President Virendra Kirloskar sold $1.8 million
KLA’s stock hit an all-time high of $307.37 on June 30. It closed at $183.77 yesterday.
The corresponding market cap loss was over $160 billion: $401 billion to yesterday’s $240 billion.
Each insider sale occurred on a distinct date and price, so the above transactions did not occur altogether after, but rather during the 40% stock slide.
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