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Paul Allen to sell shares
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August 19, 1998: 4:07 p.m. ET
Microsoft co-founder files to shed another 1 million shares worth $105M
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NEW YORK (CNNfn) - Microsoft Corp. co-founder Paul Allen plans to sell another 1 million Microsoft shares worth $105 million, according to a filing submitted to the Securities & Exchange Commission.
According to the filing, Allen wanted to sell the shares around Aug. 13 through Donaldson, Lufkin & Jenrette. The filing was submitted Aug. 17 to the SEC.
Company officials and others with substantial holdings are required to register their intent to sell shares with the SEC. However, the filing of a Form 144 does not require the officials to actually sell the shares.
Allen has been aggressively selling shares of late. Over the last three months, he has sold about $1.6 billion of Microsoft stock.
Before the most recent sale, Allen owned about 184 million shares, or a 7 percent stake in Microsoft. 
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