Microsoft Executive Sells Millions of Shares

Posted by: §intå×

Microsoft Executive Sells Millions of Shares - 06/01/03 11:52 PM

Steve Ballmer, the Chief Executive of Microsoft, recently sold millions of shares. He sold 2 million for $24.66 each and 4 million for $24.49 each. Recently, Microsoft stock has risen slightly.

Ballmer is not forced to divulge why he is selling so many shares. Securities laws allows a company insider to have a fixed trading plan to avoid the appearance of insider trading. Ballmer said he sold the shares to diversify his portfolio.

The trading plan mandated that he diversify by acquiring different shares. He has not told the media how many more shares he may sell and what circumstances affected this large sell-off.

http://story.news.yahoo.com/news?tmpl=st...crosoft_ballmer