{"id":638640,"date":"2010-01-22T19:00:00","date_gmt":"2010-01-23T00:00:00","guid":{"rendered":"Gizmodo-5455045"},"modified":"2010-01-22T19:00:00","modified_gmt":"2010-01-23T00:00:00","slug":"larry-and-sergey-plan-to-dump-google-stock-and-give-up-voting-control-google","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/638640","title":{"rendered":"Larry and Sergey Plan to Dump Google Stock and Give Up Voting Control [Google]"},"content":{"rendered":"

Google just put out an SEC filing saying founders Larry Page<\/a> and Sergey Brin<\/a> plan on dumping some of their holdings of the company’s stock.<\/p>\n

When they finish selling 5 million shares apiece, they’ll still own 15% of the outstanding shares, but their voting power will have dropped below 50%. So they are ceding absolute control of the company.<\/p>\n

From the filing:<\/p>\n

<\/a>Larry and Sergey currently hold approximately 57.7 million shares of Class B common stock, which represents approximately 18% of Google’s outstanding capital stock and approximately 59% of the voting power of Google’s outstanding capital stock.<\/p>\n

Under the terms of these Rule 10b5-1 trading plans, and as a part of a five year diversification plan, Larry and Sergey each intend to sell approximately 5 million shares.<\/p>\n

If Larry and Sergey complete all the planned sales under these Rule 10b5-1 trading plans, they would continue to collectively own approximately 47.7 million shares, which would represent approximately 15% of Google’s outstanding capital stock and approximately 48% of the voting power of Google’s outstanding capital stock (assuming no other sales and conversions of Google capital stock occur).<\/p>\n



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Google just put out an SEC filing saying founders Larry Page and Sergey Brin plan on dumping some of their holdings of the company’s stock. When they finish selling 5 million shares apiece, they’ll still own 15% of the outstanding shares, but their voting power will have dropped below 50%. So they are ceding absolute […]<\/p>\n","protected":false},"author":1655,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-638640","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-2G8E","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/638640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/1655"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=638640"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/638640\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=638640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=638640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=638640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}