(NewsTraders) -- America Online (AOL) Chairman and CEO Steve Case registered 250,000 America Online common shares for sale, according to a Form 144 released Monday by the SEC.
Case disclosed his intention to sell the shares on September 30 on the NYSE through Hambrecht & Quist for an aggregate sale price of about $29,343,750. There are about 216,201,994 America Online shares outstanding.
In addition, America Online Senior Vice President Miles Gilburne registered 250,000 shares for sale with an aggregate market value of $27,110,000. Gilburne disclose his intention to sell the shares on October 1 on the NYSE through Goldman Sachs & Co.
According to a proxy filed with the SEC on Sept 28, Case held 2,960,367 AOL shares as of July 15, 1998.
Below are the disclaimers for his ownership.
(5) Includes the following shares as to which Mr. Case shares beneficial ownership: 8,172 shares held by a custodian on behalf of Mr. Case's minor children under the Uniform Gifts to Minors Act and 30,469 shares held by his spouse.
(6) Includes shares issuable within 60 days of July 15, 1998 upon the exercise of options to purchase Common Stock as follows: Mr. Case-1,963,000; Mr. Melton-350,000; Mr. Pittman-290,000; Mr. Leader-687,072; Mr. Novack- 12,500; Mr. Vradenburg-117,500; and all Directors and executive officers as a group 4,695,980.
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