Microsoft’s CEO, Satya Nadella, sells one-third of his common shares worth $35.5 million. The Indian-origin CEO sold 328,000 of his shares in multiple trades at prices ranging from $109.08 to $109.68 as the stock price reached a record high. He netted more than $35.5 million. The information was disclosed by the stock sale in a regulatory filing on Saturday.
Microsoft shares have hiked over 53 per cent in the past year, closing the week at $109. The record closing price was $110.83 on July 25. Nadella still own about 778,596 shares of common stock. He is required to have 15 times his base salary in stock. In 2017 his annual base salary was $1.45 million and his total compensation exceeded $20 million.
Confirming the report, a Microsoft spokesperson told CNBC, “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.”
Since taking over the role of CEO from Steve Ballmer in February 2014, the Seattle-based Microsoft’s shares have tripled in value. In a statement to Bloomberg, Microsoft says that Nadella made the move “for personal financial planning and diversification reasons.” Bloomberg also reports that this marks the beginning of a trading plan, whereby Nadella will regularly sell portions of his Microsoft equity on a fixed schedule.