Schmidt sells a few shares, gets $29 million

Eric E. Schmidt sold 57,100 shares of common stock under a prearranged trading plan, according to a SEC filing Tuesday.

He sold the shares on Friday for an average price of $510.08.

The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.