Summary by Moomoo AI
The Lawrence Page Trust, an affiliate of Alphabet, Inc., is set to sell a significant number of shares in the company. The trust plans to offload 215,920 shares of Class A Common Stock and an equal number of Class C Capital Stock on July 11, 2024. These shares have an aggregate market value of approximately $40.99 million and $41.32 million, respectively. The Class A shares were originally acquired on May 26, 2006, as a distribution for no consideration from J.P. Morgan Trust Company of Delaware & Lawrence Page as trustees of the GRAT dated March 15, 2004. The Class C shares were obtained on April 2, 2014, as a stock dividend from the issuer. Over the past three months, the trust has sold a total of 241,360 securities, generating gross proceeds of $41.86 million. The upcoming sale follows a structured plan adopted on November 30, 2020.