Girish Mathrubootham sells $40 million worth of Freshworks stock
Freshworks founder Girish Mathrubootham sold shares in the software-as-a-service (SaaS) company amounting to nearly $40 million, filings made with the US Securities and Exchange Commission (SEC) showed.
Mathrubootham, who stepped down as the chief executive officer (CEO) of Freshworks, sold a total of 2.5 million shares in two tranches on December 18 and 19, the filings showed. Prior to this, he owned around 5% stake in the company.
Mathrubootham is currently the chairman of the board of directors at Freshworks and was replaced by Dennis Woodside for the CEO position.
In February this year, he had divested shares amounting to $9.6 million.
During the same month, the Nasdaq-listed company’s board cancelled the performance-based stock award of six million shares to Mathrubootham, citing macroeconomic headwinds that created challenges for Freshworks’ share price.
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