Microsoft Chairman Bill Gates sells 3M shares
NEW YORK --Bill Gates, the chairman of software company Microsoft Corp., sold 3 million shares of common stock, according to Securities and Exchange Commission filings Friday.
In Form 4s filed with the SEC, Gates reported he sold the shares Wednesday for $29.82 to $30.20 apiece. Following the sale, Gates holds about 813.1 million shares, or roughly an 8.7 percent stake in the software company.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Microsoft is based in Redmond, Wash. 