Google's Schmidt to sell roughly 42% of stake
- Vote for Supriya Sule or lose water, âthreatensâ Ajit Pawar
- Watch video: Baba Ramdev caught on camera discussing money with BJP candidate
- Nobel laureate Gabriel Garcia Marquez dies at 87
- 5th phase of elections: Moderate to high turnout on biggest voting day
- Election Commission lifts ban on BJP leader Amit Shah after he promises to behave
Google Inc Executive Chairman Eric Schmidt is selling roughly 42 percent of his stake in the Internet search company over the coming year, Google announced on Friday.
Schmidt will sell 3.2 million shares of Class A common stock through a stock trading plan, Google said in a filing with the US Securities and Exchange Commission.
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.
Schmidt, who served as Google's Chief Executive until 2011, currently owns roughly 7.6 million shares of Class A and Class B common stock. The shares represent 2.3 percent of Google's outstanding stock and roughly 8.2 percent of the voting power of Google's stock.
Shares of Google, which finished Friday's session at a new closing high of $785.37, were down $2.21 in after hours trading.
- As EC website crashes due to overload, party workers use apps to locate voters
- An entire society in Kothrud could not vote
- Chaos, anger across city over missing names
- Mulayam pushes third front, says will stake claim to PM post
- Don’t look at my candidates, votes for me: Maya to Dalits
- AAP biggies focus on Vishwas, Kejri seats, other units suffer