Google News
Larry Page to Sell 1.2 Million More Shares
Bloomberg reports, more inside selling at Google, as Larry Page files to sell 1.2 million shares worth $370 million:
``I'm not aware of any other companies that have had massive insider selling like this,'' said Richard Howe, a lawyer at Sullivan & Cromwell LLP in New York, who advises on insider stock sales. ``This is amazing for the people who started the company from nothing and turned it into this amazing profit- making machine.''
Bloomberg notes that Page and Brin who each owned ~38.5 million shares (or ~15%) of Google at the time of their IPO, typically sell around 400,000 shares a month.