AOL's Andreessen files to sell $88 mln in shares
WASHINGTON, Aug 20 (Reuters) - Marc Andreessen, the chief
technology officer at America Online Inc. <AOL.N>, plans to
sell 940,680 common shares of the Internet services giant,
worth $88 million, a Securities and Exchange Commission filing
said.
Andreessen acquired the shares after exercising a stock
option, according to his filing earlier this week with the SEC.
Andreessen, a former technology executive at Netscape
before the merger with AOL, is one of several AOL insiders who
have recently filed to sell stock, including senior vice
president for global and strategic policy George Vradenburg
III, who plans to unload 25,000 shares worth $2.248 million.
A spokesman at Dulles, Va.-based AOL said in a brief
statement: "AOL executives routinely sell shares during open
windows as part of their long-term personal financial
planning."
Andreessen still retains a sizable stake in AOL, which has
more than one billion shares outstanding.
AOL shares closed down 11/16 to 95-3/16 on the New York
Stock Exchange trading. |
