Gorilla and King Portfolio candidates - Moderated Message Board

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Strategies & Market Trends : Gorilla and King Portfolio candidates - Moderated

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To: Uncle Frank who wrote (2696)	1/23/2010 8:15:33 PM
From: stockman_scott	Read Replies (2) of 2955

Google’s Founders File to Sell 5 Million Shares Each (Update1) By Brian Womack Jan. 22 (Bloomberg) -- Google Inc. founders Larry Page and Sergey Brin have adopted five-year trading plans to sell about 5 million shares each, reducing their combined ownership of stock outstanding to 15 percent from 18 percent. With the reduction in shares, Brin and Page’s voting power in the company would drop to 48 percent from 59 percent, according to a filing with the U.S. Securities and Exchange Commission. Based on today’s closing stock price, each would get about $2.75 billion from selling the shares. “They are both as committed as ever to Google and are integrally involved in our day-to-day management and product strategy,” Google said in an e-mailed statement. “The majority of their net worth remains with Google.” Page and Brin, who met at Stanford University in 1995 before starting Google, participated in a similar plan announced in 2004 that let them sell 7.2 million shares each. The founders are tied for No. 11 on the Forbes 400 list of richest Americans. Google had its initial public offering in 2004. Google, based in Mountain View, California, fell $32.97, or 5.7 percent, to $550.01 at 4 p.m. New York time on the Nasdaq Stock Market. The shares more than doubled last year. To contact the reporter on this story: Brian Womack in San Francisco at Bwomack1@bloomberg.net Last Updated: January 22, 2010 18:47 EST

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