Google founders Brin and Page to sell 10 mln shares

23 January 2010 @ 11:43 am EDT

NEW YORK - Google Inc founders Larry Page and Sergey Brin plan to sell about 10 million of the company's shares over the next five years, the company said in a regulatory filing on Friday.



Larry Page (L) and Sergey Brin, founders of Google, show the G1 phone running Google's Android software in New York September 23, 2008.
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Page and Brin currently own about 57.7 million shares of Google's Class B common stock -- roughly 18 percent of Google's outstanding capital stock and about 59 percent of the voting power of Google's outstanding capital stock.

If the two founders both sell 5 million shares as planned, they would own about 47.7 million shares, which would represent around 15 percent of Google's outstanding capital stock and 48 percent of the voting power of Google's outstanding capital stock.

Page is currently Google's president of products and Brin is its president of technology.

(Reporting by Michael Erman; editing by Carol Bishopric)

Copyright 2009 Thomson Reuters. All rights reserved.

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