According to the proxy, the CEO is 59. If he sells out now, he could transition into another big job at another bank. If he waits, he risks he will be too old for another banking job. E.g., BB&T has a mandated retirement age of 70 for directors, and it looks like they don't have a lot of old people working there - and they actually said on a conference call, something like "our management guys are young." Or the CEO could go back into law practice - look at the old lawyers in Norfolk, where they practice until they're senile ... and a little beyond. But the problem is, once you're in banking, it wouldn't be that easy to transition back into law. Way to bet is he goes for another big banking job while he's still young enough.