Amazon.com CEO Bezos sells about 2.15 million shares

By Associated Press May 7, 2008 Comments (0)

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The chairman, chief executive and president of online retailer Amazon.com Inc. sold about 2.2 million shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Monday.

In a Form 4 filed with the SEC, Jeffrey Bezos reported he sold the shares Thursday and Friday for $77.55 to $79.09 apiece.

The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

Amazon.com is based in Seattle.

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DocumentId: 639634, ~/articles/articlehandler.aspx, 7/9/2008 2:23:09 AM, No ticker

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