AOL executives Case, Gilburne sell shares
February 26, 1999 06:09 PM
WASHINGTON, Feb 26 (Reuters) - America Online Inc. Chief Executive Stephen Case and Senior Vice President Miles Gilburne sold a total of 500,000 shares worth over $78 million in the leading Internet services provider, regulatory documents showed.
Case and Gilburne disclosed their intention to sell the shares in separate 144 filings with the Securities and Exchange Commission on February 25, which was later confirmed by a company spokesman.
Case sold 400,000 shares worth approximately $62 million while Gilburne disposed of 100,000 shares for about $16 million.
The sale was considered routine and consistent with their financing planning, the spokesman said.
Case's total holdings measured 16.4 million shares which include options, while Gilburne has a totaling holding of 2.8 million shares, the spokesman said.
((Peter Ramjug, 202-898-8399)) REUTERS
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