Microsoft CEO Satya Nadella sells $35mn-worth shares in biggest sale
What's the story
Microsoft's Indian-origin CEO Satya Nadella has netted over $35 million after selling almost one-third of his common shares in the software giant. Nadella sold 328,000 shares in multiple trades at prices ranging from $109.08 to $109.68 as the stock trades near a record price. The stock sale, disclosed in a regulatory filing yesterday, netted Nadella more than $35 million. Here's more.
Details
Nadella still owns 778,596 shares of common stock
Microsoft shares have soared 53% in the past year, closing the week at $109. The record closing price was $110.83 on July 25. Nadella, 50, still owns 778,596 shares of common stock. He is required to have 15 times his base salary in stock. His annual base salary in 2017 was $1.45 million, and his total compensation exceeded $20 million.
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Microsoft spokesperson's statement
"The stock divestitures made today were for personal financial planning and diversification reasons. 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," a Microsoft spokesperson said.