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11-06-2010, 05:40 PM #1
CEO Ballmer Sells $1.34 Billion in Microsoft Stock
NOVEMBER 5, 2010.
Microsoft Filing: CEO Ballmer Sells $1.34 Billion in Microsoft Stock
By NICK WINGFIELD
Microsoft Corp. Chief Executive Steve Ballmer sold $1.34 billion of Microsoft shares in recent days, his first share sales in the company since 2003.
In a statement, the Redmond, Wash., software company said Mr. Ballmer sold the shares for financial diversification and "to assist in tax planning" before the end of the calendar year. In a filing submitted with securities regulators Friday evening, Microsoft said Mr. Ballmer sold about 50 million shares in recent days, amounting to about $1.34 billion. In a statement, Microsoft said Mr. Ballmer could sell up to 75 million shares in total, including his recent sales, by the end of the year.
Because of the infrequency of his share sales, Microsoft sought to allay concerns that Mr. Ballmer's move hints at a lack of confidence in the company.
"Even though this is a personal financial matter, I want to be clear about this to avoid any confusion," Mr. Ballmer said in a statement. "I am excited about our new products and the potential for our technology to change people's lives, and I remain fully committed to Microsoft and its success."
Before his recent share sale, Mr. Ballmer held approximately 408 million Microsoft shares, the company said.
Write to Nick Wingfield at nick.wingfield@wsj.com
http://online.wsj.com/article/SB1000142 ... lenews_wsjNO AMNESTY
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