Google CEO Sundar Pichai sells $3.98 million in stock under this rule he adopted in August 2023

CEO Sundar Pichai has sold a portion of his shares in parent company Alphabet. According to a SEC filing, Pichai sold his Class C Capital Stock, amounting to a total value of approximately $3.98 million. The transaction occurred on November 20, 2024, with shares traded at prices between $176.096 and $178.6811 each.

The shares were sold under a Rule 10b5-1 Trading Plan that he adopted on August 31, 2023.
After the sell-off, Pichai now owns 2,061,806 Class C Capital Stock shares. Along with this, he directly owns 2,061,806 Class C Capital Stock, 227,560 Class A Common Stock, and 372,790 Class C Google Stock Units of Alphabet Inc.

In another news, the US Department of Justice (DoJ) has asked a federal judge to break up Google, forcing the company to sell its most popular browser - Chrome to restore fair competition in the online search market. The department has filed a 23-page document calling for sweeping corrective measures, including data sharing and providing search results access to competitors, reports AP. The proposal also seeks to impose restrictions on Google designed to prevent its Android smartphone software from favoring its search engine.
Read more: US Justice Department to Google: Sell one of your most profitable product and the world's most-popular browser, Chrome
DoJ said “The playing field is not level because of Google’s conduct, and Google’s quality reflects the ill-gotten gains of an advantage illegally acquired.” It added “The remedy must close this gap and deprive Google of these advantages.”
In addition to calling for a Chrome spinoff and more control over Android, the Justice Department is also urging the U.S. District Judge Amit Mehta to prevent Google from securing multibillion-dollar agreements that make its search engine the default on Apple iPhones and other devices.