Google Insiders Selling at Fast Clip
Google (GOOG) insiders have sold close to $305 million worth of stock since the beginning of August, according to SEC filings.
On one day alone, August 17, board member Ram Kavitark Shriram, one of the first investors in Google, sold $98 million worth of shares. Earlier in August, he and his spouse unloaded $50.66 million in stock. They are the largest sellers so far this month.
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In addition to the Shrirams, co-founders Lawrence Page and Sergey Brin each sold over $50 million in August. Board members John L. Doerr ($8.33 million) and Shirley M. Tilghman (approximately $2.5 million) were among the other sellers along with CFO Nikesh Arora (approximately $1.211 million).
Google's CEO Eric E. Schmidt, a heavy seller in July, has sold $1.68 million so far in August. Senior VPs Patrick Pichette and David Drummond have also sold shares this month.
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No insider sales were logged after August 17, according to SEC filings as of this morning.
Meanwhile, over at Facebook (FB), Peter Thiel, an early investor in the social network, sold the majority of his shares (worth $400 million) this month as the lockups began to expire.
