Summary by Moomoo AI
The Lawrence Page Trust, an affiliate of Alphabet, Inc., is set to sell a significant number of shares in the company. On March 14, 2024, the trust plans to offload 215,920 shares of Class A Common Stock and an equal number of Class C Capital Stock. The Class A shares are valued at approximately $30,498,700, while the Class C shares have an aggregate market value of $30,708,142. The Class A shares were originally acquired on May 26, 2006, as a distribution for no consideration from J.P. Morgan Trust Company of Delaware & Lawrence Page as trustees of the GRAT dated March 15, 2004. The Class C shares were obtained on April 2, 2014, as a stock dividend from the issuer. This upcoming transaction follows a series of sales over the past three months, where a total of 239,360 securities were sold for gross proceeds of $34,652,362.