Alphabet CEO Sundar Pichai Sells Shares Worth over $4.2 Million

Alphabet Inc. $Alphabet-C(GOOG.US)$ CEO Sundar Pichai has sold a portion of his company stock, offloading shares worth over $4.2 million. The transactions, which took place on July 3, 2024, were disclosed in a regulatory filing with the U.S. Securities and Exchange Commission.

According to the filing, Pichai sold a total of 22,500 shares of Alphabet's Class C capital stock. The shares were sold in two separate transactions, with prices ranging from $185.55 to $187.59 per share. The first batch of 8,975 shares was sold at an average price of $186.09, while the second batch of 13,525 shares fetched an average price of $187.18.

Following the sale, the CEO still holds a substantial number of Alphabet shares. The filing shows that Pichai retains 2,227,385 shares of Class C capital stock and 227,560 shares of Class A common stock. Additionally, he has Class C Google Stock Units (GSUs) that entitle him to receive shares as they vest, with a current holding of 446,786 GSUs.

The disclosed transactions were conducted under a pre-arranged trading plan, known as a Rule 10b5-1 trading plan, which Pichai had adopted on August 31, 2023. Such plans allow company insiders to sell shares at predetermined times to avoid accusations of trading on non-public information.

Investors and market watchers often scrutinize insider transactions for insights into executives' views on their company's prospects. However, trades under a 10b5-1 plan are typically scheduled in advance and may not necessarily reflect immediate strategic decisions by company executives.

Alphabet Inc. has not provided any additional comments on the transactions outside of the regulatory filing.

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