Sunday, August 22, 2004

Dell Founder Sells Shares
By DOW JONES/THE ASSOCIATED PRESS

WASHINGTON, Aug. 20 (Dow Jones/AP) - The founder and former chief executive of Dell Inc., Michael S. Dell, sold $350 million of company common stock this week, according to a filing Friday with the Securities and Exchange Commission.

From Wednesday to Friday, Mr. Dell sold 10 million shares for $34.71 to $35.19 each, according to the filing.

Mr. Dell stepped down as chief executive last month, ceding the post to Kevin Rollins. Mr. Dell remains chairman of the company.
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Note: But don't fret...there are over 2.5 billion shares of common stock outstanding at about $35/share, so Michael's not going to bankrupt the company anytime soon...however, there might be more to it than that according to a commentary on fool.com

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