“Red Hat, a developer of the Linux computer operating system,
along with several of its executives, filed with the Securities and
Exchange Commission to sell about 4 million shares of common stock
worth $529 million.”
“Red Hat will sell 2.8 million shares and the selling
shareholders, including several executives such as Matthew Szulik,
the company’s president and chief executive, will sell another 1.25
million. Szulik will sell about 39,000 shares, while Robert
Young, the company’s chairman will sell just over 320,000 shares,
leaving him with a 12 percent stake after the sale.”
“Frank Batten is selling about 548,000 shares. Batten announced
today he was resigning from the company’s board, saying he wanted
to devote more time to his venture capital opportunities.”