Microsoft’s Satya Nadella rakes in $35 million in share sale
Microsoft CEO Satya Nadella is allowed to hold not more than 15 times his base salary — $1.45 million in 2017— in the company’s stock
Washington: Microsoft Corp.’s Indian-origin Chief Executive Officer Satya Nadella has 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, with the stock trading near record highs. The stock sale, disclosed in a regulatory filing on Friday, raked in more than $35 million for Nadella.
Microsoft shares have soared 53% in the past one 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 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 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.