NEW YORK (GenomeWeb News) – Danaher today said that Steven Rales, its chairman of the board, will sell 15 million shares of Danaher common stock under SEC Rule 144.
The rule governs the public resale of restricted and control securities.
Danaher said that Rales is selling the shares in connection with his personal financial and estate planning. Following the sale, he will continue to hold more than 43 million shares of Danaher's outstanding common stock. Danaher has around 692.7 million total shares outstanding.
In Thursday morning trade on the New York Stock Exchange shares of Danaher were down around 2 percent at $51.03.