Tom Siebel plans to sell a portion of his company shares

[mazzy]

Siebel Systems (Profile, Products, Articles) Inc. founder Tom Siebel plans to sell up to 18 percent of his company stock over the next two years, the company said Tuesday.

He has adopted a trading plan to cover the gradual sale of up to 10 million shares of stock, including some that will be acquired through the exercise of stock options set to expire in March 2006, the company said. If Siebel completes all of his planned sales, he'll be left with 45 million company shares and vested options, representing around a 9 percent ownership stake in the company.

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