FOCUS-Dell founder files to sell $162 mln in stock
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By Peter Ramjug
WASHINGTON, Nov 29 (Reuters) - Michael Dell, the chairman and founder of Dell Computer
Corp.(NasdaqNM:DELL - news), plans to sell $162 million worth of his company's stock as part of a
regular portfolio diversification move, the company said on Monday.
Dell, who in 1984 founded what is currently the world's No. 2 personal computer maker, filed with the
U.S. Securities and Exchange Commission last week to sell 4 million common shares.
The sale would represent about 1 percent of his total stake in Dell, company spokeswoman Neisha
Frank said. Dell currently owns about 14.3 percent of the company that bears his name.
The company said actual confirmation of the sale will be reported in an SEC filing next month.
Michael Dell already sold 8 million shares worth more than $377 million between Aug. 27 and Sept. 14
at prices ranging from $46.4686 per share to $48.3577 per share, the SEC filing said.
Dell shares were up 1-3/8 to 44-5/16 on Nasdaq on Monday afternoon.
Michael Dell and other insiders at the Round Rock, Texas-based company are taking advantage of a
selling window which is only open for about half of the year, the Dell spokeswoman said.
''Our executives are on a very regimented schedule for selling their stocks (and) diversifying their
portfolios,'' Frank said.
''Our executives can only sell stock about half the year; the rest of the time they're restricted from doing
so. You will regularly see them doing that during that window of opportunity.''
Other Dell executives who filed with the SEC to unload shares include Chief Financial Officer Thomas
Meredith, who plans to sell 500,000 shares, or less than 10 percent of his total stake. The shares are
worth about $20.25 million.
And Vice Chairman Morton Topfer is looking to sell 825,000 shares, or about 10 percent of his total
holdings, valued at about $33.8 million.
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