02/10/2024 – 18:38
Amazon.com founder Jeff Bezos dumped $2.04 billion worth of shares in the online retail company in his first sale in more than two years. The operation was announced on Friday night, the 9th.
Bezos sold 12 million shares of the company at an average price of US$170.21 per share. The transaction took place between Wednesday the 7th and Thursday the 8th.
According to a document filed with the Securities and Exchange Commission (SEC), the securities regulator in the United States, Bezos sold the shares through a Rule 10b5-1 (c) trading plan, which Amazon disclosed in your fourth quarter financial results form.
Plan signals higher volume sales
The company reported that Bezos presented the plan to sell up to 50 million shares on November 8, 2023. These trading plans are typically used by insiders to buy or sell shares without signaling a trend in the inner workings of a company or business. futures.
Insiders set parameters such as price and volume, and transactions are automatically executed when conditions are met.
After the latest transactions, Bezos kept 976 million Amazon shares. The company's shares have risen around 15% this year, compared to a 5.4% increase in the S&P 500 index.
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