Samueli Foundation to Sell $51.6M in Broadcom Shares Following Earlier $23.6M Sale
Rhea-AI Filing Summary
Broadcom's Chairman Files Form 144 for Significant Stock Sale
The Samueli Foundation, associated with Broadcom's Chairman of the Board, has filed a Form 144 indicating intent to sell 192,024 shares of common stock with an aggregate market value of $51.6 million. The sale is planned for June 26, 2025, through Northern Trust Securities on NASDAQ.
Key details of the transaction:
- The shares were originally acquired through gifts from D95GT, LLC (97,244 shares) and H & S Investments LLP (94,780 shares) in August 1991
- The Foundation previously sold 136,248 shares on March 27, 2025, for gross proceeds of $23.6 million
- The sale follows a Rule 10b5-1 trading plan adopted on January 10, 2024
The proposed sale represents approximately 0.004% of Broadcom's total outstanding shares (4.7 billion). The filing includes standard attestation that the seller has no knowledge of material adverse non-public information.
Positive
- None.
Negative
- Insider sale: The Samueli Foundation (connected to Chairman of the Board) plans to sell 192,024 shares worth approximately $51.6M through a 10b5-1 trading plan, following another recent sale of 136,248 shares ($23.6M) in March 2025
FAQ
How many shares of AVGO stock is the Samueli Foundation selling on June 26, 2025?
What was the Samueli Foundation's previous AVGO stock sale in 2025?
What is the relationship between the Samueli Foundation and Broadcom (AVGO)?
When did the Samueli Foundation adopt their AVGO trading plan under Rule 10b5-1?
How did the Samueli Foundation acquire the AVGO shares being sold?