Amazon.com Chief Executive Jeff Bezos filed to sell almost $7 million worth of company stock in November, according to documents filed with the Securities and Exchange Commission. Bezos sold 800,000 shares, equal to less than 1 percent of his Amazon stake, in four separate sales at prices ranging from $8 to $9.09 per share.
The sale is part of a plan adopted early last year that commits him to selling stock at fixed intervals, said Amazon spokesman Bill Curry. Bezos sold more than 250,000 shares in 2001. Under Bezos' sales plan, he is allowed to set parameters for the number of shares to be sold, but his brokerage firm makes the final decision, Curry said. The down economy shaved 30 percent off Amazon's value in 2001. Bezos' holdings shrank in value by $544 million but are still worth $1.2 billion.