Yahoo Founders To Sell Shares

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Credit: Corbis

Yahoo (NSDQ: YHOO) founders Jerry Yang and David Filo (pictured, in 1998) are cutting back their holdings in the company. In a filing with the SEC, Yang said he is selling three million shares via a blind trust, which was set up in April and is set to expire by the end of the year, while Filo said he would sell up to two million shares as part of a prearranged trading plan beginning this May. If both men sell all those shares — which would fetch about $75 million at current market prices — they would cut their overall holdings in the company by about four percent (Together, they owned 133 million shares last April). So, in total, not too massive, although the announcement does follow a run-up in the price of Yahoo shares over the last year.

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