Business

Microsoft CEO Satya Nadella Sells Shares Worth $35.9 Million

JAVED SAIFI | 0
6595
| August 12 , 2018 , 12:25 IST

Microsoft Indian-origin CEO Satya Nadella has sold out its 30 percent stakes in the company and netted around $35.9 million as the stock sale was disclosed in a regulatory filing on Friday.

After the sale of his one-third total shares in the software company Nadella owns around 778,596 shares of common stock. Nadella sold 328,000 shares in multiple trades at prices ranging from $109.08 to $109.68.

According to reports in media, a Microsoft spokesperson said, “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.”

Also Read: For The First Time, Microsoft Records Revenue Of Over $100 Billion

Nadella annual base salary in 2017 was $1.45 million and total compensation exceeded $20 million. It is required for Nadella to have 15 times his base salary in stock.

Microsoft stock was up by 7 percent to $109.07 in after-hours trading Friday after slipping 67 percent in the regular session.

Nadella will sell fewer than half his shares through the structured plan in which he doesn’t control the timing or amounts sold, the company said on Friday.

Two years ago Nadella had sold 143,000 shares worth $8.3 million.