Microsoft CEO Satya Nadella just sold almost one-third of his common shares in the software company as the stock trades near a record price.
The stock sale, disclosed in a regulatory filing on Friday, netted Nadella more than $35 million. He sold 328,000 shares in multiple trades at prices ranging from $109.08 to $109.68.
Microsoft shares have soared 53 percent in the past year, closing the week at $109. The record closing price was $110.83 on July 25.
Nadella, 50, still owns 778,596 shares of common stock. As of Sept. 29, he also had 2.28 million additional underlying shares or stock units, according to the latest proxy statement. Nadella is required to have 15 times his base salary in stock.
His annual base salary in 2017 was $1.45 million, and total compensation exceeded $20 million.
"The stock divestitures made today were for personal financial planning and diversification reasons," a Microsoft spokesperson told CNBC in an email. "Satya is committed to the continued success of the company and his holdings significantly exceed the holding requirements set by the Microsoft board of directors."
Since Nadella took over the CEO role from Steve Ballmer in February 2014, Microsoft shares have tripled in value. He last sold shares in 2016, when the stock was worth around $58 per share.