Posted by: youngragingbull | February 9, 2013

Google chairman to sell half of his shares for $2.51B

Google Inc. chairman Eric Schmidt plans to sell up to $2.51 billion of his share in the company, according to a Securities and Exchange Commission filing late Friday.

Schmidt owns 2.3% of Google’s outstanding shares and has 8.2% of the voting power.

Under the plan, Schmidt, who owns about 7.6 million shares of Google stock, plans to sell about 3.2 million shares of his Class A stock.

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