Google co-founders Larry Page and Sergey Brin have revealed plans to sell shares currently worth $4.4bn over the next two years, in a move that would leave them little room for further sales without ending their combined control of the company.谷歌(Google)联合创始人拉里佩吉(Larry Page)和谢尔盖布林(Sergey Brin)想在今后两年内出售一批股份，目前价值44亿美元。在这批股份出让之后，他们如之后出售股份，就很有可能失去对谷歌的牵头控制权。The disposal plans, revealed in a regulatory filing, would leave the Google founders with barely half the shares they held when they took Google public in 2004. However, their remaining combined stake would still be worth nearly $45bn.这一股票出售计划是在一份监管文件中透露的，将令两位谷歌创始人持有人的股份降到2004年谷歌上市时的一半。不过，他们所所持剩下股份总价值仍相似450亿美元。

The expected sales were disclosed as part of a 10b trading plan, under which executives report their intended disposals but give up control over the timing of when the sales are made.这次将要再次发生的股票出让是一项10b条款交易计划的一部分。按照这一计划，主管须要汇报其股票出让想，并退出对挤兑时间的控制权。Mr Brin and Mr Page control Google through a special class of shares that gives them 54.6 per cent of the voting rights, even though their economic interest is only 13.1 per cent.布林和佩吉通过一种类似类型的股份掌控谷歌，这类股份令其他们虽然只享有13.1%的经济权益，但却享有谷歌54.6%的投票权。

After the latest sales, their voting control will fall to only 52 per cent, Google said.谷歌回应，在已完成最近这次股票销售之后，他们的投票控制权将跌到至只有52%。The company issued a new class of non-voting C shares last year in a move to protect the founders’ control over the long term. The new shares are expected to be used to fund acquisitions and employee stock plans without diluting the founders’ control.该公司去年曾发售过一种新型的无投票权C类股票，以维护两人的长年控股权。这种新型股票预计将用作在不溶解两人控制权的前提下，为并购及员工持股计划获取资金。

Google also at first proposed that Mr Brin and Mr Page — who hold half their stake in the form of the C shares — should be free to sell this class of stock to raise cash if they wanted.谷歌最初还曾建议，容许布林和佩吉随心所欲地权利出售这类股票，以筹集资金。在两人持有人的股份中，半数股份是这种C类股份。However, an investor lawsuit forced a settlement in which the founders agreed to sell their super-voting shares in equal proportion to the C stock, leaving them facing dilution to their control if they continue to make big disposals.然而，投资者发动一轮法律诉讼，强迫谷歌达成协议了一项妥协协议。按照协议，两人表示同意以C类股份完全相同比例出售其享有超级投票权的股份。

这造成他们一旦之后乘机挤兑股票，就有可能面对控股权的溶解。

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