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April 7, 2017 12:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/YCojco3mwLw/twitter-co-founder-ev-williams-is-selling-30-percent-of-his-stock-for-personal-reasons
Twitter Co-Founder Ev Williams Is Selling 30 Percent of His Stock For 'Personal' Reasons
The co-founder and current board member of Twitter, Ev Williams, said today that he plans to sell a "minority of [his] TWTR" stock over the next year, and doesn't plan to sell "more than 30 percent" of his holdings. Williams is the company's largest individual shareholder, so his recent announcement may make some investors worried. However, Twitter stock was only down less than 1 percent Thursday following this news. Recode reports: Williams was careful to say the sale was for "personal" reasons, not company performance reasons. Twitter's stock is down more than 15 percent over the past three months. Williams explained the sale in a blog post, and wrote that he has spent a lot of money investing through his venture fund, Obvious Ventures, and also donated a lot to charity and political campaigns over the past year. "I'd like to continue," he added. Williams sold about $4 million in stock this week, according to an SEC filing, and has set up a 10b5-1 trading plan, which means he'll sell at pre-determined dates moving forward to avoid any concerns over insider trading.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/YCojco3mwLw/twitter-co-founder-ev-williams-is-selling-30-percent-of-his-stock-for-personal-reasons
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