The famous Google co-founders Larry Page and Sergey Brin have released plans (starting on November the 30th) to each sell 5 million Google shares over the next 5 years. The SEC filing (essentially a statement of intent that some companies and some people within those companies are required to make) lays out their plans 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 goes on to explain that Mr Brin and Mr Page currently hold around 57.7million shares of ‘Class B common stock’, representing around 18% of Google’s outstanding capital stock and approximately 59% of the voting power of the outstanding capital stock.
The Register reports that 5 million shares are roughly worth around $2.75 billion.
..More information can be found on The Register, and the SEC filing.
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