Daniel Ek Sells $100M in Spotify Stock Following Earnings Report

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The CEO has offloaded 675,000 shares in the company, according to a new Securities & Exchange Commission filing.

Daniel Ek joins Trevor Noah to discuss the future of storytelling at Spotify Beach on June 20, 2023 in Cannes, France.sold just over $100 million worth of his stock holdings in the company, according to a filing with the U.S. Securities & Exchange Commission on Thursday .

The amount represents the sale of 675,000 shares, which will be sold by D.G.E. Investments, an entity “indirectly wholly owned” by Ek, according to the SEC filing. Of those shares, 203,435 were acquired through a stock option exercise on July 13, 2020, the filing notes, while 471,565 were purchased by Ek on May 5, 2022 — a $50 million investment the CEOin a ploy to shore up investor confidence. The purchase occurred just a week after Spotify’s stock hit an all-time low of $95.

Spotify stock has rallied since then, closing at $144.52 on Thursday (a slight uptick from Tuesday, when it

 

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