The company’s CEO, Greg Becker, had sold 12,450 shares worth $3.57 million on February 26. CFO Daniel Beck sold $0.57 million worth of stock on the same day. CMO Michael Draper first sold $20,000 worth of shares and then sold 809 shares worth $0.19 million.
The Federal Deposit Insurance Corporation has taken control of the bank. 45 days employment opportunity and 1.5 times salary will be given to the employees. But it is not clear whether this will be applicable to employees in India.
An employee, who did not wish to be named, told Business Today that everything is uncertain. Most of them worked from home. That is why even after the collapse of the bank, he could not go to the office, he said.
Concerns remained about the US Fed raising interest rates too quickly, another staffer said. He said that he was worried about the financial situation of the bank when there was such a rate hike. At the same time, the employees who are in a precarious situation are cooperating with each other virtually.
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