disclosed how the late Susan Buffett's shareholdings will be distributed Monday, saying up to 1,500 of her Class A shares will be sold over the next two years.
Buffett, the wife of controlling shareholder Warren Buffett, died July 29. She was a Berkshire director and owned 31,530 Class A shares and 177 Class B shares.
Securities and Exchange Commission
filing, the company said between 1,200 and 1,500 of Mrs. Buffett's shares will be sold "to fund the payment of taxes, other expenses and specific cash bequests." Another $150 million worth of her common stock will be transferred in equal amounts into three private foundations set up by the Buffetts' children. That's about 1,780 class A shares at their current market price of $84,300 each.
Berkshire's Class A shares trade about 227 shares a day, on average.
The remaining stock will be transferred to the Buffett Foundation, a charity to which Warren Buffett's massively valuable Berkshire stake is expected to go at the time of his death.