Thread: 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_wsj

"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

Well, if he's really so bullish about Micorsoft than he shouldn't be selling. This is just another typical insider oligarch deal the public doesn't find out about until after it's done. No doubt that's why the price went up which is the exact opposite of what you'd expect with more selling. That way Ballmer gets a better price.

He could just be moving his money out at the lower tax rate for 2010 before the "rich" get taxed.