Bach sold $9.2 million worth of Microsoft stock
According to SEC documents filed yesterday, Microsoft's Robbie Bach sold three million dollars more in company stock than was previously reported
According to SEC documents filed yesterday, Microsoft's Robbie Bach sold three million dollars more in company stock than was previously reported.
Back in July, it was reported that Bach sold USD 6.2 million in Microsoft stock in the two months prior to the company announcing a USD 1.5 billion charge for extending the Xbox 360 warranty and repairing defective units.
Microsoft blames an "administrative error" for not registering Bach's sale of an additional three million dollars worth of company stock on May 1st. A spokesperson said that Microsoft has followed the procedures for late-filers and is now in full compliance.
Although Microsoft denies that the stock sales were related to the Xbox 360 warranty repair announcement, the sales could trigger an SEC investigation. However, as Microsoft's stock value wasn't particularly impacted by the repair announcement, Bach did not apear to benefit from the sale.