SiliconBeat

Jerry Yang, a co-founder of Yahoo and, until earlier this year, the company’s chief executive, placed 2 million of his Yahoo shares into a blind trust managed by a third-party “who will have complete discretion as to when, and to what extent, the stock is to be sold or otherwise disposed of.” The trust, set up April 29, is set to expire after one year, according to a regulatory filing Monday.

The blind trust’s holdings represent about 3.8 percent of Yang’s total holdings of Yahoo stock, based on the company’s most recent proxy.

Should the blind trust choose to sell some or all of Yang’s Yahoo stock, it would be the first sale Yahoo stock by Jerry Yang since 2005.

On Monday, Cypress Semiconductor sold 2.5 million shares of SunPower, the company it spun-off into a separate public entity in November 2005, reducing its ownership stake by 5.6 percent. Cypress continues to be SunPower’s single biggest stockholder, with 42 million shares, or 52.3 percent of SunPower shares outstanding, according to a filing with the SEC today.

The shares were sold to a private investor. The amount of the transaction was not detailed. SunPower shares rose 18 percent last Friday Read the rest of this entry »