Google's Schmidt to sell roughly 42 percent of stake- a $2.51 billion windf
(Reuters) - Google Inc Executive Chairman Eric Schmidt is selling roughly 42 percent of his stake in the Internet search company, a move that could potentially net the former chief executive a $2.51 billion windfall.
Schmidt, 57, will sell 3.2 million shares of Class A common stock through a stock trading plan, Google said in a filing with the U.S. Securities and Exchange Commission on Friday.
The plan, which Google said would give Schmidt "individual asset diversification and liquidity," allows Schmidt to spread trades out over a period of one year to reduce the market impact.
Shares of Google were down $4.11 at $781.26 in after-hours trading on Friday.
A Google spokeswoman would not comment on why Schmidt is selling the shares at this time.
http://news.yahoo.com/googles-schmidt-sell-roughly-42-percent-stake-005024962--sector.html
Comment
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Comment by B or D on February 13, 2013 at 2:39pm
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2012 United States
There were 117 court-ordered requests for a total of 3,851 items to be removed. Google complied with 40 percent of these requests.
In addition, 70 executive requests were made for 2,341 items to be taken down, 44 percent of which Google complied with.
All statistics found from Google's Transparency Report.
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Comment by slimekiller on February 10, 2013 at 10:00pm
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I think he is selling them to pay back the CIA who lent him the money to start google and maybe get them out of his hair. Right now they are editing google search info, so I have had to go to duck duck go and other search engines. If he doesn't get rid of them, google is going to die from the censorship.
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