Trouble closing the wallet, Joe? EMC boss Tucci's cloudy shares rain $10m

Cloudfather still sitting on shares worth $44m

By Chris Mellor, 5th August 2013

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EMC CEO and chairman Joe Tucci has earned himself a cool $10.5m after selling hundreds of thousands of shares in the storage biz.

Tucci made $10,583,406.96 from selling 400,000 EMC shares on 30 July and 1 August, according to the SEC Form 4 website, which links to this SEC filing.

Tucci's transaction consisted of selling 192,000 EMC shares before exercising his right to buy 207,000 more from the company at a reduced price. He then disposed of those shares at their full market value.

After the selloff, Tucci still owns 1.7 million shares in EMC. Going by the $26.42 which each share fetched last week, the firm's CEO is potentially sitting on $44m worth of shares.

Weather forecasts for Hopkinton, the Massachusetts hometown of EMC, show that over Wednesday 31 July and Thursday 1 August – the dates when Joe sold his shares – there were thunderstorms over the town. Perhaps ol'Joe's windfall may have been the result of a wet Thursday afternoon with nothing better to do.

What could Tucci do with $10,000,000? El Reg suggests this list of ways to spend a million bucks in a day as a good starting point. ®

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