The CEO of the Intercontinental Exchange, which owns the New York Stock Exchange, sold millions of dollars worth of the parent company's shares in late February just days before the first reported death from the
novel coronavirus in the U.S. The transaction also came as financial markets were starting to tumble as the devastating economic impact of the outbreak was becoming clear.
Jeffrey Sprecher, who is the husband of Republican U.S. Senator Kelly Loeffler of Georgia, on February 26 sold $3.5 million in shares of ICE, as the exchange is called, at an average price of $93.42 each, according to a
filing with the Securities and Exchange Commission. Since then, ICE shares have plunged nearly 25% amid a broader downdraft in stocks.
Sprecher and Loeffler also sold $15.3 million worth of ICE shares on March 11, at an average price of around $87,
SEC filings show.
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