MARK HURD TO CASH-IN $30,000,000.00 WORTH OF HP STOCK

Thrown out ex CEO of Hewlett-Packard (HP), Mark Hurd is said to be planning to sell his stocks in the company. The total worth of the stocks is estimated to be $30 million. He declared about his plans way back on August 23 and the market has since been waiting in anticipation for the execution of the plans.

The report was first published in Bloomberg. The newspaper cited inside traders and said that Hurd has already sent his proposal for approval to the Securities and Exchange Commission. In the letter, he has asked for permission to sell 775,000 shares that he got while his tenure as the CEO.As per the inside reports the approval was to be given long back but it is still not clear whether it has come or not.Hurd had lost his job on August 6 and has also lost a bundle of shares because of this. But he still holds a lot of shares with him which either came to him while, he was on job and also while he was given as compensation during farewell.Hurd was thrown out for concealing his personal relationship with one of the dealer of HP.
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