Paul Allen Files to Sell $935 Million of Microsoft Stock - TheStreet

Microsoft

(MSFT) - Get Report

co-founder Paul Allen, who plans to step down as a board member next week, filed with the

Securities and Exchange Commission

to sell 15 million common shares worth about $935 million.

Shares of Microsoft were recently up $1.69, or 2.5%, to $69.06. The 52-week high is $119.94 and the low is $48.44.

Allen acquired the shares in June 1981 as part of founders' stock. Allen quit Microsoft's daily operations in 1983 to fight Hodgkin's disease. In the past few months, he has sold 15.98 million shares valued at $1.14 billion.