Google founders to sell GOOG shares
http://online.wsj.com/article/BT-CO-20100122-713019.html?mod=WSJ_latestheadlines
SAN FRANCISCO (Dow Jones)-Google Inc. (GOOG) co-founders Larry Page and Sergey Brin each intend to sell about 5 million shares of the Internet search giant as part of a five-year stock trading plan, the company said in a regulatory filing Friday.
Under the trading plan, the co-founders would reduce their combined holdings in Google from about 57.7 million common shares, or approximately 18% of outstanding capital stock, to 47.7 million shares, or about 15% of the company, according to the U.S. Securities and Exchange filing.
The stock trading plan, adopted on Nov. 30, 2009, would also see the two reduce their combined voting shares from 59% to about 48%, the filing said.
“These pre-arranged stock trading plans were adopted in order to allow Larry and Sergey to sell a portion of their Google stock over time as part of their respective long-term strategies for individual asset diversification and liquidity,” the filing said.
Google’s shares slid 0.4% to $548.10 in after-hours trading. The stock has jumped 80% in the past year but is down 11% in 2010.
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how ch is 5,000,000 x $548?
a big number..thats how much they get with this cash out..would you do this if you thought the market was going up?
401
hehehe
Almost all biz owners do this (Bill Gates, as an example) and it is VERY common. Their fortunes are still tied to Google. Do your homework and you’ll find this to be true.
um yeah DB..i am aware of that..i am about the timing of it not the actual sale..if they have 52 million and they sell 5 million well that leaves 47 million shares doesnt it so i dont think i was claiming they were selling out of google did i?