Daniels Richard Devon 4
4 · SVB FINANCIAL GROUP · Filed Nov 8, 2024
Insider Transaction Report
Form 4
SVB FINANCIAL GROUPSIVBQ
Daniels Richard Devon
Director
Transactions
- Disposition to Issuer
Common Stock
2024-11-07−1,010→ 0 total
Footnotes (2)
- [F1]On March 17, 2023, SVB Financial Group, a Delaware corporation (the "Issuer"), and certain of its subsidiaries (together with the Issuer, the "Company") commenced voluntary cases under chapter 11 of the United States Bankruptcy Code in the United State Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). On August 2, 2024, the Bankruptcy Court entered an order (the "Confirmation Order") confirming the Debtor's Second Amended Plan of Reorganization Under Chapter 11 of the Bankruptcy Code (the "Plan"). On November 7, 2024 (the "Effective Date"), the Plan became effective in accordance with its terms and the Company emerged from chapter 11. The Plan was approved by the Issuer's Board of Directors.
- [F2]On the Effective Date, all outstanding shares of the Issuer's common stock were cancelled and extinguished in accordance with the Plan approved by the Bankruptcy Court.