Summary
This 8-K filing from Berkshire Hathaway Inc. (BRK-B) dated July 29, 2004, primarily addresses the disposition of shares from the estate of Mrs. Susan T. Buffett following her passing. The key information for investors relates to the planned sale of a portion of Mrs. Buffett's stock holdings to cover estate-related expenses and the subsequent distribution of remaining shares to private foundations. While the exact number of shares to be sold is outlined, the filing also indicates a significant value of Berkshire Hathaway stock will ultimately be transferred to philanthropic entities.
Key Highlights
- 1Mrs. Susan T. Buffett, wife of Warren E. Buffett and a former Director, passed away on July 29, 2004.
- 2Her estate plans to sell approximately 1,200 to 1,500 shares of Berkshire Hathaway Inc. Class A common stock over the next two years.
- 3These sales are intended to fund the payment of taxes, other estate expenses, and specific cash bequests.
- 4Following probate, Berkshire Hathaway shares valued at $150 million (at that time) will be transferred equally to three private foundations established by the Buffett children.
- 5Any remaining Berkshire Hathaway common stock in the estate after sales and transfers will be transferred to The Buffett Foundation.
Frequently Asked Questions
The primary reason for the sale of Berkshire Hathaway Class A common stock by Mrs. Buffett's estate is to fund the payment of taxes, other estate expenses, and specific cash bequests.
The estate expects to sell approximately 1,200 to 1,500 shares of Berkshire Hathaway Inc. Class A common stock over the next two years.
After the payment of expenses and specific bequests, Berkshire Hathaway shares with a market value of $150 million (at the time of transfer) will be distributed equally to three private foundations established by Mr. and Mrs. Buffett's children. Any remaining stock will go to The Buffett Foundation.
No, this filing is primarily a disclosure related to the estate of Mrs. Susan T. Buffett and the planned disposition of her stock holdings. It does not report on new strategic decisions or changes in Berkshire Hathaway's financial performance.