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 sell 217,020 shares of Class A Common Stock and an equal number of Class C Capital Stock on November 14, 2024. These shares were acquired through a distribution for no consideration and a stock dividend in 2006 and 2014, respectively. The aggregate market value of the Class A shares is approximately $38.68 million, while the Class C shares are valued at around $39.02 million. This announcement follows a series of transactions over the past three months, where a total of 241,360 shares were sold by the trust for gross proceeds of approximately $38.25 million.
