Microsoft CEO sells $285 million in stock

It seems that Tesla’s Elon Musk isn’t the only famous CEO to drop a stake in the company they run. Microsoft President and CEO Satya Nadella more than halved her stake in the software giant over the past week.

Nadella sold nearly 840,000 shares of Microsoft stock just before Thanksgiving, netting him about $285 million in proceeds, according to a filing with the Securities and Exchange Commission. He still owns more than 830,000 shares of Microsoft, now worth about $280 million.

It makes sense that Nadella would take some money off the table. After all, Microsoft stock has had a stellar run this year, up more than 50%. Home Depot is the only Dow stock that has performed better.

Microsoft has enjoyed strong sales and revenue thanks to the cloud leadership it has established since Nadella took over as CEO in 2014. The company is now worth more than $2.5 trillion. . Only Microsoft’s rival Apple has a higher market value.

And Nadella was well compensated for her successful tenure at Microsoft.

According to Microsoft’s most recent annual shareholder proxy report filed with the SEC, Nadella earned a salary of $2.5 million this fiscal year and has a total annual compensation package that includes bonuses. stock and cash preference, close to $50 million. Nadella also earned more than $40 million in the past two fiscal years.

Under Nadella, Microsoft has beefed up its Azure cloud unit. The company is also monetizing its core Office 365 suite of Word, Excel, PowerPoint and other business software, as well as from its corporate social networking unit LinkedIn and its Xbox gaming division.

A Microsoft spokesperson said in a statement to CNN Business that Nadella sold the stock “for reasons of personal financial planning and diversification.”

“He is committed to the continued success of the company, and his holdings significantly exceed the holding requirements set forth by the Microsoft Board of Directors,” the spokesperson added.

The stock sale also comes just before Microsoft’s home state of Washington is set to implement a 7% long-term capital gains tax.

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