Last week, BlackBerry founder Mike Lazaridis—who is no longer with the company—sold more than $27 million worth of shares, reducing his stake in the Waterloo-based smartphone maker to less than 5%.
Now that Lazaridis owns less than 5% of BlackBerry he is no longer required by the Securities and Exchange Commission to disclose his stock trades. In fact, he’s so uninvolved in BlackBerry these days he hasn’t even met the company’s new chairman and interim CEO, John Chen.
Meanwhile, Fairfax Financial head Prem Watsa continues to up his stake in BlackBerry: over Christmas he bought $1 million worth of shares, boosting his already high stake in the company to more than 51 million shares—double that of anyone else. Fairfax led a $1 billion investment in BlackBerry in November.