Microsoft Execs Filed to Sell Shares Last Week

Executives at Microsoft Corp., including co-founder Paul Allen, filed to sell millions of shares of the software giant in the days leading up to a judge’s ruling ordering the company split.

Allen sold 35.6 million common shares worth more than $3 billion from March 1 to June 5, according to filings with the Securities and Exchange Commission. He filed to sell an additional 2 million shares worth more than $138 million on June 6, the day before U.S. District Judge Thomas Penfield Jackson ordered Microsoft to be split in two in the federal government’s antitrust case. The company is appealing the decision.

Allen’s spokeswoman said Friday that approximately every quarter he “will divest some portion of his Microsoft shares for the diversification of his overall portfolio.”

Microsoft shares have risen from $70.50 on June 7, the day of the ruling, to $72.56 on Friday.

Among other sellers, Microsoft Chief Operating Officer Robert Herbold filed on June 7 to sell 175,000 shares for about $12 million. His SEC filing showed he had not sold any Microsoft shares in the previous three months.

On June 8, Senior Vice President Paul Gross filed to unload 30,000 shares for about $2 million. He had sold 25,000 shares May 1.

Both executives acquired their shares after exercising options, the documents showed.