Melinda French Gates received AutoNation shares last year as part of her divorce.
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Melinda French Gates more than halved her stake in automotive retailer AutoNation .
French Gates cut her ownership in AutoNation (ticker: AN) to 2.6 million shares, a 4% stake as of Jan. 4, from 6.3 million shares, an 8.8% stake, as of Aug. 6. The discrepancy in the change in percentage stakes is due to a smaller base more recently for AutoNation’s outstanding shares. French Gates disclosed the change in regulatory filings.French Gates received AutoNation shares, along with other stocks including Deere (DE) and Canadian National (CNI), last year as part of her divorce from Microsoft (MSFT) co-founder Bill Gates. The divorce was finalized in August.French Gates didn’t respond to a request for comment left with her firm Pivotal Ventures.
Now that her ownership level is less than the 5% threshold, French Gates is no longer obligated to disclose sales of AutoNation stock. She may sell the rest of her shares without further public notice.
Incidentally, Bill Gates was trimming his stake in AutoNation in October.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at [email protected] and follow @BarronsEdLin.
