Jerry is moving 3 million shares to a blind trust that can do whatever it wants with the shares. David is starting a plan to unload 2 million shares over a 12 month period.
When all the shares are gone, the founders will own 4% of the company, notes Joseph Tartakoff at paidContent.
At today’s stock price the sale is worth a total of $74.5 million. If Jerry had accepted the $33 per share offer from Microsoft, this amount of stock would have been worth $165 million.