The aftermath of the breach of Heartland Payment Systems card data security systems appears to have hit some of its executives in their wallets.
The payments processor, whose 2008 breach may have compromised the most card numbers ever, announced yesterday that its CEO, Robert Carr, his wife and one of the company executives were being forced to sell some of the company's stock they had placed as security for loans.
The company announced that Carr and his wife were forced to sell over 692,000 shares of the company's stock to meet obligations under a loan for which the shares were pledged as security, the company said. Heartland's chief sales officer, Sanford Brown, was also expected to have to sell stock for the same reason, the company said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
