The sale, for financial planning reasons, is the beginning of a regularly scheduled trading plan for some of the equity awards he received.
Microsoft Chief Executive Officer Satya Nadella has sold 328,000 shares of Microsoft stock valued at $35.9 million for financial-planning reasons and is beginning a regularly scheduled trading plan for some of the equity awards he received.
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 securities filing Friday after the stock market closed, is the second time Nadella has sold Microsoft stock since becoming CEO in 2014. He sold 143,000 shares worth $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.”
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Microsoft stock was up 7 cents to $109.07 in after-hours trading Friday after slipping 67 cents in the regular session.