September 7, 2017
Trio didn’t know about the intrusion when selling, firm says
Shares tumbled in late trading
after company disclosed breachThree Equifax Managers Sold Stock Before Cyber Hack RevealedThree Equifax Inc. senior executives sold shares worth almost $1.8 million in the days after the company discovered a security breach that may have
compromised information on about 143 million U.S. consumers.
The trio had not yet been informed of the incident, the company said.
The credit-reporting service said late Thursday in a statement that it
discovered the intrusion on July 29. Regulatory filings show that
three days later, Chief Financial Officer
John Gamble sold shares worth $946,374 and Joseph Loughran, president of U.S. information solutions, exercised options to dispose of stock worth $584,099.
Rodolfo Ploder, president of workforce solutions, sold $250,458 of stock on Aug. 2. None of the filings lists the transactions as being part of 10b5-1 scheduled trading plans.
The three “sold a small percentage of their Equifax shares,” Ines Gutzmer, a spokeswoman for the Atlanta-based company, said in an emailed statement.
They “had no knowledge that an intrusion had occurred at the time.”
Equifax said in its statement that
intruders accessed names, Social Security numbers, birth dates, addresses and driver’s-license numbers, as well as credit-card numbers for about 209,000 consumers.
The incident ranks among the largest cybersecurity breaches in history.Equifax shares tumbled 13 percent to $124 in extended trading at 7:49 p.m. in New York.
https://www.bloomberg.com/news/articles/2017-09-07/three-equifax-executives-sold-stock-before-revealing-cyber-hack
