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"Outgoing Google CEO Eric Schmidt intends to sell more than half a million of the company's shares in a transaction that would be worth approximately $335 million today.\nIn a filing with the SEC, the technology giant disclosed that Schmidt has adopted a stock trading plan where he will sell around 534,000 shares of Google Class A stock in the next year.  The company cites portfolio diversification as the primary reason for the sale.\nIf Schmidt were to sell his shares at today's closing price of $626.77, it would be worth $334.7 million.\nWhile a rather large amount for the vast majority of us, it's still a small fraction of Schmidt's 9.2 million Google shares, which represents 2.9% of Google's outstanding capital stock.  After he sells his shares, he will still own 2.7% of Google and hold 9.1% of the company's voting power, thanks to his ownership of Google's Class B common stock.  \nSchmidt's current ownership stake is worth $5.77 billion, only eclipsed by Larry Page and Sergey Brin's stakes. It's important to note that the Google co-founders are also selling significant portions of their Google shares.  In January 2010, an SEC filing revealed that they would each sell 5 million shares over five years, a transaction that would be worth $6.27 billion in total at today's closing price.\nEarlier today, Schmidt announced that he would be stepping down as CEO and handing the reins to co-founder Larry Page.   Schmidt will be taking on the role of executive chairman and will be in charge of external relations and partnerships."^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2011/01/21/eric-schmidt-google-shares/>