Amazon CEO Jeff Bezos and about 7 other top company execs just sold $82,221,46 worth of Amazon (AMZN) stock — with all but $3 million of that going into Jeff’s banking account.
Curiously, the sales started May 1 and continued through May 4 — just days before Amazon announced its new large screen Kindle in New York.
Do we have a case of insider trading on our hands?
No way. No how.
Clusterstock’s John Carney tells us these kinds of sales are scheduled “way ahead of time, without inside knowledge.” John says it’s also unlikely Jeff or any other top Amazon execs would have been able schedule the Kindle news around a pre-planned sell date.
“They can get in trouble if they schedule events to coincide with sales,” says John. “Usually, they get around this by not even knowing exactly when the scheduled sales happens. It’s all done blind.”
Here’s a chart we put together show who sold how much.
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