Gates, Allen To Sell Shares In Microsoft

Microsoft Corp. Chairman Bill Gates and co-founder Paul Allen this month filed plans to sell a total of 1 million shares, as the software company’s stock rose on expectations for sales of new products.

Gates, one of the world’s wealthiest men, filed to sell 500,000 of his 141 million shares, according to the Washington Service, which tracks insider transactions. He could get $61.9 million based on the average price of $123.75 during the four-day period in which the filings were made.

The sales by Gates, Allen and three other executives came as the stock reached a record high of $125.25 on Aug. 12. The shares, which are up 40 percent this year, rose on prospects for its new version of the Windows NT operating system and its Internet software. The stock closed Monday at $122.87-1/2, down 37-1/2 cents on the Nasdaq stock market.