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Adam

Oh good, more dumping of GOOG shares by key executives:

Three Google executives disclosed that they have adopted trading plans for their company stock, a week after the Internet search engine said its high-profile co-founders and chief executive expect to sell portions of their stakes through similar plans.

The three officials, including Google Chief Financial Officer George Reyes, sold more than 300,000 Class A shares Monday under the stock-trading plans, according to filings with the Securities and Exchange Commission.

The SEC filings released late Wednesday didn't disclose the terms of the lower-level executives' plans, but said that Jonathan J. Rosenberg, vice president of product management, sold 42,525 Class A shares, Reyes sold 42,587 shares and senior vice president Omid Kordestani sold 243,526 shares.

The officers sold their stock through trusts for $162.68 to $168.78 each.

Google shares rose $4.63, or 2.7 percent, to close at $179.39 Friday morning on the Nasdaq Stock Market.

They can't get out fast enough... and here's another one from the Wall Street Journal...

Google's Backers,
Executives Cash In

By ANN GRIMES and KEVIN J. DELANEY
Staff Reporters of THE WALL STREET JOURNAL November 22, 2004; Page C4

Shares of Web-search titan Google Inc. have nearly doubled since its August initial public offering of stock. And now Google's biggest backers are seriously cashing in.

Venture-capital firm Kleiner Perkins Caufield & Byers, which invested less than $15 million in Google in 1999, this past Tuesday handed out
5.4 million Google shares -- valued at $932 million at Tuesday's close
-- to investors in one of its funds, according to people familiar with the matter.

Then, on Friday, Google's co-founders and chief executive disclosed plans to sell a total of 16.6 million shares, valued at $2.8 billion, over the next 18 months. On Thursday, two vice presidents reported selling a combined 55,000 shares, for roughly $9.5 million.

Ironically, both the venture firm and the Google executives now are benefiting from the wave of negative publicity that forced Google to scale back its IPO in August. In the days leading up to the offering, Kleiner abandoned plans to sell shares in the IPO. Google co-founders Larry Page and Sergey Brin, as well as CEO Eric Schmidt, all reduced the number of shares they planned to sell.

Now, those shares are valued at nearly twice the $85 for which Google sold shares during the IPO. In 4 p.m. Nasdaq Stock Market composite trading Friday, Google shares rose $1.86, or 1.1%, to $169.40.

Kleiner distributed shares to roughly 200 investors on Tuesday, the day that IPO-related restrictions expired on some of its Google holdings.
Kleiner passed the shares along to approximately 20 institutions and scores of wealthy individuals who invested in its Fund IX-A, the people familiar with the matter said; those investors were then free to sell their Google shares.

Kleiner disclosed changes to its Google holdings in a Friday filing with U.S. federal regulators, which showed that the Menlo Park, Calif., venture firm had distributed at least 5.8 million of the 21 million Google shares it owned from the IPO, some of it to investors in its other funds. Spokesmen for Kleiner and Google, Mountain View, Calif., declined to comment.

In all, post-IPO sales restrictions, or "lock-ups," were lifted Tuesday on 39 million Google shares held by insiders and pre-IPO investors.
That more than doubled the shares available for trading in the stock market. Over the next three months, lock-ups on an additional 227 million Google shares will expire, freeing those for sale. The additional supply, and selling by Google insiders, could pressure the share price.

Under the stock-trading plans disclosed Friday, Messrs. Brin and Page each plans to sell 7.2 million shares, or roughly 19% of their holdings. Mr. Schmidt plans to sell about 2.2 million shares, about 15% of his holdings.

Makes me warm inside. Now, how do I sell my GOOG shares for euros instead of dollars? ;)

From the Sunday, November 28 Mercury News business section:

A good week for... Omid Kordestani

Google Employee No. 12 cashed in less than 10 percent of his shares Monday [November 21] for around $40 million -- that can make the holidays bright indeed. Kordestani has a good story, too: He got pulled in for an interview in 1999 by Google's co-founders, who'd never hired a business operations person before. Despite Kordestani's suit and tie, the team agreed he was a good fit. Five years later, Google goes IPO. And now: payday.

Also, John Battelle notes that GOOG saved The Bubble Fund (aka Kleiner Perkins Fund IX), reports Silicon Beat:
It's also now official that Kleiner Perkins Caufield & Byers, one of Silicon Valley's better known venture firms, has turned its hitherto money-losing ninth fund into a winner -- on the back of Google. That $460 million fund, which Kleiner Perkins started investing in 1999, had been trailing at a -21.2 percent internal rate of return, according to recent University of California data.

In a registration with the Securities & Exchange Commission Friday, Kleiner Perkins signaled it had distributed 5.78 million shares to its investors (known as limited partners, or LPs) at $172 per share. That's $994.2 million, enough to double investors' money. That distribution is just the beginning, because Kleiner had 21 million shares in Google to begin with. As for John Doerr, the Kleiner Perkins partner who sits on Google's board, he so far has taken personal ownership of at least 672,459 shares, according to the filing. We're not quite sure what this means, but it suggests Doerr has at least 1.7 million shares in total.

It's good to be the king!

Jeff

I wonder what they will do all that money... asides from the 2 chicks at the same time deal...

hosna montazamipour

Mr Omid Kordestani could you please give me your email address?
My company is about to make a comercial bussiness with you.

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