IoT
Software // Enterprise Applications
News
3/4/2003
02:07 PM
50%
50%

Microsoft CEO Sells $49 Million Worth Of Shares

Steve Ballmer sold 2 million shares at at average price of $24.66 as part of a plan to diversify assets

WASHINGTON (AP) -- Microsoft Corp. chief executive Steve Ballmer sold $49.3 million worth of shares of the software giant's stock, according to a regulatory filing Friday.

Ballmer sold 2 million shares at an average price of $24.66 on Wednesday, the Securities and Exchange filing said. After the sale, Ballmer held 419.5 million shares in Microsoft, which is based in Redmond, Wash.

Ballmer said May 23 that he intended to sell company shares under a fixed trading plan to diversify his assets. Since then, he has reported selling 51.4 million shares.

SEC Rule 10b5-1 allows company insiders to set up a trading plan so information they acquire later isn't a factor in their trading decisions.

Ballmer hasn't specified under what circumstances his trading plan allows for the sale of shares, nor has he indicated how many shares are involved in the plan.

Comment  | 
Print  | 
More Insights
Building A Mobile Business Mindset
Building A Mobile Business Mindset
Among 688 respondents, 46% have deployed mobile apps, with an additional 24% planning to in the next year. Soon all apps will look like mobile apps and it's past time for those with no plans to get cracking.
Register for InformationWeek Newsletters
White Papers
Current Issue
How to Knock Down Barriers to Effective Risk Management
Risk management today is a hodgepodge of systems, siloed approaches, and poor data collection practices. That isn't how it should be.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.