Microsoft CEO Ballmer to sell off 75 million shares

Microsoft CEO Ballmer to sell off 75 million sharesMicrosoft CEO Steve Ballmer plans to sell up to 75 million Microsoft shares to help "gain financial diversification" and to "assist in tax planning before the end of the year," the company announced today.

Before taking into account recent sales, Ballmer held 408 million shares, the company said, citing the latest Microsoft proxy report.

"Even though this is a personal financial matter, I want to be clear about this to avoid any confusion," Ballmer said. "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."

This is the first time in seven and a half years that Ballmer has sold stock. His previous sales of Microsoft stock back in 2003 came in just under $1.6 billion.

According to SEC filings, Ballmer has already sold off 49,341,652 shares of common stock across three different transactions this week, totaling a little more than $1.3 billion. Coincidentally, Microsoft chairman and founder Bill Gates also sold some of his company stock this week with two different sales (1, 2) totaling an even 3 million shares.

The tax ramifications on the two sales are of special note given the savings and investment tax hikes that are going into effect in January. The maximum long-term capital gains tax rate will increase to 20 percent, up from 15 percent. In Ballmer's case, that ends up being a savings of around $67 million by selling now instead of January, assuming Microsoft's stock price stays the same.

Source: CNET

Tags: Microsoft, Steve Ballmer

Add comment

Your name:
Sign in with:
Your comment:

Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party

Last news

Consumer group recommends iPhone 8 over anniversary model
LTE connections wherever you go and instant waking should come to regular PCs, too
That fiction is slowly becoming a reality
The Snapdragon 845 octa-core SoC includes the Snapdragon X20 LTE modem
Human moderators can help make YouTube a safer place for everyone
Google says Progressive Web Apps are the future of app-like webpages
All 2018 models to sport the 'notch'
The biggest exchange in South Korea, where the BTC/KRW pair is at $14,700 now
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /

News Archive



Do you use microSD card with your phone?
or leave your own version in comments (4)