MICROSOFT CEO NADELLA RAKES IN $35 MILLION
WASHINGTON: Microsoft’s Indianorigin CEO Satya Nadella has netted more than $35 million after selling almost one-third of his common shares in the company.
Nadella sold 328,000 shares in multiple trades at prices ranging from $109.08 to $109.68 as the stock traded near a record price.
The sale was disclosed in a regulatory filing on Friday.
Microsoft shares have soared 53% in the past year, closing the week at $109. The record closing price was $110.83 on July 25.
Nadella, 50, still owns 778,596 shares of common stock in the software giant. He is required to have 15 times his base salary in stock.
His annual base salary in 2017 was $1.45 million, and total compensation exceeded $20 million.
“The stock divestitures made today were for personal financial planning and diversification reasons,” a Microsoft spokesperson told CNBC.
“Satya is committed to the continued success of the company and his holdings significantly exceed the holding requirements set by the Microsoft board of directors,” he said.
Since Nadella took over as CEOIN 2014, Microsoft’s shares have tripled in value.