toggle

AAPL Stock: 113.29 ( + 0.37 )

Printed from http://www.macnn.com

Former RIM Co-CEO Jim Balsillie sells all BlackBerry shares

updated 01:18 pm EST, Thu February 14, 2013

SEC filing shows shares sold before end of 2012

The former co-CEO of BlackBerry has sold his entire stake in the company, according to a Securities and Exchange Commission filing. Jim Balsillie, who shared the title of chief executive officer with Mike Lazaridis until January 2012, previously held 5.1-percent of the firm, and placed him as the third-largest shareholder in what was formerly called Research In Motion.

Balsillie resigned from the company's board in March 2012, just two months after leaving the CEO position. His 26.8 million shares in the company are listed at 0 as of the end of December 2012, according to the Financial Post, suggesting he sold his stake at some point towards the end of the year. Though this could lead to speculation that Balsillie had little confidence in BlackBerry's future, shares that were initially 6.9-percent down in pre-market trading rose by 2-percent before midday in New York.

Lazaridis continues to be the largest individual shareholder of BlackBerry, owning 5.67-percent, while Fairfax Financial Holdings is the largest shareholding entity at 9.89-percent. Current BlackBerry CEO Thorsten Heins currently owns 0.02-percent of the company.




by MacNN Staff

toggle

Comments

  1. iphonerulez

    Dedicated MacNNer

    Joined: 11-28-08

    Wow!...

    He obviously has enough money to retire for good, but everyone says that BlackBerry will have a huge resurgence and this guy is selling off all his shares. That's so surprising unless he wants to start his own company or something.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented