Washington : Microsoft’s Indian-origin CEO Satya Nadella netted over $35 million after selling almost one-third of his common shares in the software giant. Nadella sold 328,000 shares in multiple trades at prices ranging from $109.08 to $109.68 as the stock trades near a record price.
The stock sale, disclosed in a regulatory filing on Friday, netted Nadella more than $35 million. 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 own 778,596 shares of common stock. He is required to have 15 times his base salary in stock. His annual base salary in 2017 was $1.45 million, and his 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 the CEO role from Steve Ballmer in February 2014, Seattle-based Microsoft’s shares have tripled in value. He last sold shares in 2016, when the stock was worth around $58 per share.