Ted Sarandos, co-chief executive of streaming giant Netflix, just sold a batch of Spotify stock.
Here’s what Sarandos cashed out, according to SEC documents uncovered by MBW 17,710 common stock on Thursday (September 12).
total market value Sarandos Spot stock sales are approx. Dollar $6 million.
According to SEC filings (see below), the sale of Sarandos 17,710 Stocks are managed by Morgan Stanley.
Sarandos is Netflix’s co-chief executive and is credited with leading the company’s push into streaming, international markets and original programming.
He has been working at Netflix ever since 2000 And was promoted from chief content officer to co-chief executive in 2020.
Sarandos Already a member of Spotify Board of Directors Effective September 13, 2016.
In addition to serving on SPOT’s board of directors, Sarandos serves on the boards of directors of: Netflix and serves as Chairman of the Academy Film Museum Board of Directors and Treasurer of the Discovery Arts Board of Trustees.
He also serves on the board of directors of the American Film Institute, on the executive committee of the Academy of Television Arts and Sciences, and as a Henry Crown Fellow at the Aspen Institute.
Sarandos is the latest Spotify shareholder to cash in a large chunk of the company’s stock.
On June 7, the company’s co-founder and former chairman Martin Lorenson Sell $81.5 million Spotify stock.
Sales are through roscello gmbh. is a holding company registered in Cyprus and owned by the Luxembourg-based company Almatea, whose sole shareholder is Lorentzon. The vast majority of Lorentzon’s shares in Spotify are held through Rosello.
June 5, Spotify’s former financial officer barry McCarthy Shortly after resigning as Peloton CEO, he cashed in $10 million worth of SPOT stock.
In April, Spotify co-founder and CEO Daniel Ek Sell 400,000 Spotify shares have a total market capitalization of $118.8 million.
The move marks the fourth in the past 12 months I cashed in some of his Spotify in stock:
Daniel Ek and Martin Lorenson It is Spotify’s largest holding.
According to Spotify’s latest 20-F report filed in February, as of the end of 2023, CEO Daniel Ek is the largest shareholder, 30.86 million shares, or 15.65% Spotify 197.14 million Shares issued.
Based on Spotify’s share price $337.5 Ek’s stock value at market close on Thursday (September 12) US$10.41 billion.
Meanwhile, Lorenzo held 21.53 million shares, or 10.92% All shares, which are valued at $7.26 billion Calculated based on current share price.
Spotify shares rise nearly 79% year to date. The music streaming company posted its largest-ever quarterly profit in the three months to the end of June.
Spotify’s global premium subscriber base has also grown to 246 million Net additions of paying users in the second quarter 7 million The number of subscribers increased this quarter compared with the same period last year 1 million Get ahead of the guidance.
As of Thursday, September 12, SPOT’s market cap was Dollar $67.77 billion.
Read MBW’s recently released Who Owns Spotify in 2024 guide to get a full understanding of the streaming company’s ownership structure.global music business
