AMZN Stock Plunges 1.25% as Jeff Bezos Sells Nearly $2.5B in Amazon Shares
6 hours ago by Daria Rud · 3 min read
Photo: Amazon
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Since 2017, Jeff Bezos has been selling $1 billion in Amazon shares every year in order to fund his Blue Origin space project. The transactions are a part of a prearranged 10b5-1 trading plan which provides an affirmative defense to insider trading.
Jeff Bezos, CEO and founder of e-commerce giant Amazon.com Inc (NASDAQ: AMZN), has sold more than $2.4 billion in Amazon shares this week. According to the regulatory filings, he offered about 740,000 shares on Monday and Tuesday for approximately $2.48 billion at prices ranging from $3,274 to $3,485 per share. The transactions were a part of a prearranged 10b5-1 trading plan.