New York: Google Inc founders Larry Page and Sergey Brin plan to sell about 10 million of the company's shares over the next five years, the company said in a regulatory filing on Friday.
Page and Brin currently own about 57.7 million shares of Google's Class B common stock--roughly 18 percent of Google's outstanding capital stock and about 59 percent of the voting power of Google's outstanding capital stock.
If the two founders both sell 5 million shares as planned, they would own about 47.7 million shares, which would represent around 15 percent of Google's outstanding capital stock and 48 percent of the voting power of Google's outstanding capital stock.
Page is currently Google's president of products and Brin is its president of technology.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter and Google+)
 |
 |
 |
|
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.