Google Founders To Offload 10M Shares
January 25, 2010 |13:15 | Gossips By : Team X
Larry Page and Sergey Brin, co-founders of Google, are planning to sell about 5 million of its shares each, The Wall Street Journal reports. The stock sale is part of a five-year stock trading plan, under which the co-founders will reduce their combined holdings from about 57.7 million common shares, or about 18% of outstanding capital stock, to 47.7 million shares, or about 15% of the company.
Page and Brin will also decrease their combined voting shares from 59% to about 48%. The pre-arranged stock trading plans enable its founders to sell a part of their Google stock over time for individual asset diversification and liquidity.
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