Chewy Executive Engaged in Insider Trading Related to Pet Insurance Partnership, According to SEC Report by Reuters

A former executive from Chewy will be required to pay $35,275 to resolve insider trading charges brought by the U.S. Securities and Exchange Commission (SEC) that date back to 2021, as announced by the regulator on Friday.

Austin Kauh, previously the director of Treasury at Chewy, is accused of acquiring material nonpublic information related to partnership discussions between Chewy and pet insurance company Trupanion in 2021.

During the negotiations, Kauh bought shares of Trupanion, which led to profits of $16,437 across two accounts once the partnership was publicly disclosed, according to the SEC.