Google Chairman Schmidt to sell off $1.45 billion in Google stock

Google Inc. has filed a Form 8-K with the SEC that Eric Schmidt, Google’s Executive Chairman of the Board of Directors, as part of a pre-arranged trading plan, intends to sell up to approximately 2.4 million shares of Class A common stock in Google Inc.

Google (GOOG) closed today at $604.64, at which price, Schmidt’s 2.4 million shares are worth over $1.45 billion
Assuming all shares are sold under the trading plan, Schmidt would own approximately 6.7 million shares, which would represent approximately 2.1% of Google’s outstanding capital stock and approximately 7.3% of the voting power of Google’s outstanding capital stock.

As of December 31, 2011, Schmidt owned approximately 9.1 million shares of Class A and Class B common stock, which represented approximately 2.8% of Google’s outstanding capital stock and approximately 9.7% of the voting power of Google’s outstanding capital stock.

MacDailyNews Take: Has Eric T. Mole seen some writing on the tunnel wall?

One thing’s for sure, $1.45 billion can support quite the subterranean lifestyle.

[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]


      1. I think a lot of us are sick of the blatant hypocrisy behind that catch phrase ‘Job Creator’. It’s just more of the same old ‘supply side economics’ abuse of the citizenry, aka ‘tinkle down economics’ aka Feed The Rich, Kill The Poor.

        Customer abuse / Citizen abuse: It’s The Spirit Of The Age.

  1. Better cash in now, before the Android bubble bursts!

    Between Oracle on one side, and the patent stuff on the other, looks like the Mole’s gettin’ out while the gettin’s good.

  2. Well Eric being a ‘rat’ obviously does pay! Having the instincts of a rat also makes you well prepared to abandon the next sinking ship … enjoy your spoils, but remember you have no ones self respect except what’s left of your own.

  3. Why sell at all: who knows?

    Why now? A graph of the GOOG stock price for last 2 years reveals peaks in March falling over 30% to troughs in July. So (all things being equal) there’s 500 million more to be made now than in a few months time.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.