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Microsoft CEO sells US$36m in stock; starts trading plan
[SEATTLE] Microsoft Corp chief executive officer Satya Nadella has sold 328,000 shares valued at US$35.9 million for financial planning reasons and is beginning a regularly scheduled trading plan for some of the equity awards he received.
Mr Nadella will continue to divest shares in the next year through the structured plan in which he doesn't control the timing or amounts sold, the company said Friday. He will sell fewer than half his Microsoft shares through the plan, according to the company.
The sale reported in a filing Friday is the second time Mr Nadella has sold Microsoft stock since becoming CEO in 2014. He sold 143,000 shares worth US$8.3 million two years ago, according to filings.
"The stock divestitures made today were for personal financial planning and diversification reasons," Microsoft said in a statement.
"Satya is committed to the continued success of the company and his holdings significantly exceed the holding requirements set by the Microsoft Board of Directors."