Google’s Executive Chairman Eric Schmidt might sell as much as 42 percent of his shares in the tech giant, according to an SEC filing. At the stock’s current price of around $785 per share, the sale could yield about $2.5 billion for Schmidt. He currently owns about 7.6 million shares of Class A and Class B common stock. Under Google’s trading plan, the former CEO could sell up to 3.2 million of his Class A common shares starting this month. He has the option of staggering the trade over a year so as not to disrupt the market.
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Big Google Cashout Plan Has Analysts Picking Schmidt's Brain
Posted by: Rachelle Dragani February 11, 2013 03:10 PMGoogle’s Executive Chairman Eric Schmidt might sell as much as 42 percent of his shares in the tech giant, according to an SEC filing. At the stock’s current price of around $785 per share, the sale could yield about $2.5 billion for Schmidt. He currently owns about 7.6 million shares of Class A and Class B common stock. Under Google’s trading plan, the former CEO could sell up to 3.2 million of his Class A common shares starting this month. He has the option of staggering the trade over a year so as not to disrupt the market.