Yahoo founder Filo to sell more shares
Elinor Mills Former Staff Writer
Elinor Mills covers Internet security and privacy. She joined CNET News in 2005 after working as a foreign correspondent for Reuters in Portugal and writing for The Industry Standard, the IDG News Service and the Associated Press.
Yahoo co-founder David Filo is planning to sell up to two million shares of Yahoo stock, under a prearranged trading schedule to take place over 12 months, according to documents the company filed with the U.S. Securities and Exchange Commission released on Friday. The shares will be sold on the open market at market prices. Filo holds about 81 million shares of Yahoo stock and sells nearly 170,000 shares every month, SEC documents show. He made $5.3 million on stock sales in the most recent sale in July. The stock closed at $29.78 on Friday.