Eric Schmidt to Sell 40% of His Stake in $GOOG

“Google Inc. GOOG +1.48% Executive Chairman Eric Schmidt plans to sell stock valued at $2.5 billion over the next year as part of a trading plan that will cut his stake in the Internet firm by more than 40%.

The Mountain View, Calif.-based company said in a regulatory filing on Friday that Mr. Schmidt plans to sell 3.2 million shares of stock over the next year. Mr. Schmidt owned 7.6 million shares of Google as of Dec. 31, according to the filing. At Friday’s closing price of $785.37, the shares being sold would have a value of $2.5 billion….”

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