Microsoft Corp. /zigman2/quotes/207732364/composite MSFT -2.66% Chief Executive Satya Nadella sold about half of his shares in the company last week, according to a federal securities filing.
In the filing last week with the U.S. Securities and Exchange Commission, the Redmond, Wash.-based software company reported Nadella sold 838,584 shares over two days, down from close to 1.7 million shares.
The transaction yielded more than $285 million for Nadella. This is the single-largest stock sale for Nadella, according to InsiderScore.
“Satya sold approximately 840,000 shares of his holdings of Microsoft stock for personal financial planning and diversification reasons,” a Microsoft spokesman said in a written statement. “He is committed to the continued success of the company and his holdings significantly exceed the holding requirements set by the Microsoft Board of Directors.”
Analysts said the move could be related to Washington state instituting a 7% tax for long-term capital gains beginning at the start of next year for anything exceeding $250,000 a year.
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