US Securities and Exchange Commission (SEC) documents show that Microsoft CEO Satya Nadella sold about half of the company’s shares last week. According to documents submitted by Microsoft to the SEC last week, Nadella sold 838,584 shares of Microsoft stock within two days. He previously held nearly 1.7 million shares of Microsoft stock.
Nadella cashed out more than 285 million U.S. dollars through this transaction. Research organization InsiderScore said that this is Nadella’s largest single stock transaction. A Microsoft spokesperson said in a written statement that Nadella sold his approximately 840,000 shares of Microsoft stock for personal financial planning and investment diversification reasons.
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He is committed to the continued success of Microsoft, and his shareholding far exceeds the shareholding requirements set by the Microsoft board of directors. Analysts said that Nadella’s move may be related to the 7% tax imposed on long-term capital gains of more than $250,000 per year by the state of Washington starting early next year.