updated 01:18 pm EST, Thu February 14, 2013
SEC filing shows shares sold before end of 2012
The former co-CEO of BlackBerry has sold his entire stake in the company, according to a Securities and Exchange Commission filing. Jim Balsillie, who shared the title of chief executive officer with Mike Lazaridis until January 2012, previously held 5.1-percent of the firm, and placed him as the third-largest shareholder in what was formerly called Research In Motion.
Balsillie resigned from the company's board in March 2012, just two months after leaving the CEO position. His 26.8 million shares in the company are listed at 0 as of the end of December 2012, according to the Financial Post, suggesting he sold his stake at some point towards the end of the year. Though this could lead to speculation that Balsillie had little confidence in BlackBerry's future, shares that were initially 6.9-percent down in pre-market trading rose by 2-percent before midday in New York.
Lazaridis continues to be the largest individual shareholder of BlackBerry, owning 5.67-percent, while Fairfax Financial Holdings is the largest shareholding entity at 9.89-percent. Current BlackBerry CEO Thorsten Heins currently owns 0.02-percent of the company.