Netscape execs sell 559,000 shares

Netscape Communications' executives filed to sell today about 559,000 shares, an amount valued at $34.7 million, the first time that company officials have sold any significant amount of stock since Netscape went public last August.

Netscape cofounder Marc Andreessen and six executives filed with the Securities and Exchange Commission for the stock sale. Andreessen personally filed to sell 10 percent of his holdings, or 200,000 shares, worth about $12 million.

Peter Currie, Netscape's chief financial officer, filed to sell 75,000 of his 800,000 shares. Eric Hahn, Netscape vice president, filed to sell 100,000 of his 586,000 shares.

Netscape stock has more than quadrupled in price since the IPO and the stock split in January.