Google Top Brass offload shares worth $1B

Key Google executives have sold more than a billion dollars worth of shares in 2011. And it has been only twenty days since the new year has begun. The Google guys are half a billion dollars richer. Each. They are also planning to get wealthier.

According to filings with the SEC, Larry Page and Sergey Brin sold off shares worth $51.28 million, and $50.26 million respectively in the first two weeks of January. Others like John Doerr of Kleiner Perkins Caufield & Byers, a Google board member  since May 1999, also followed suit. However, his cash-in was a measly $16.68 million. Insider filings have to be filed periodically with the SEC.

Eric Schmidt (and he is not the only one) intends to sell approximately 534,000 shares of Class A common stock in Google, according to a Form 8-K  Google filed with the SEC in Washington D.C. Form 8-K includes results of operational and financial results, among other things, pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934.

Schmidt's move has probably not got much to do with the fact that he is stepping down as CEO of the company; the CEO and current chairman will continue to be executive chairman. By all indications, for a very very long time, maybe even the next decade or so. Besides, Schmidt still owns a chunk of Google, and has considerable sway at voting events. While the amount of shares may be high in number, with a big ticket payout at the end, it is a small percentage of what Schmidt currently holds, and will continue to.