One more point:
In November GOOG's share price trading range was $650-$700.
Assuming "price" of the stock was one of the deciding factor for the "time" and more importantly the "size" of his plan, Eric Schmidt will front load the sale of his GOOG stocks to capture the 10 percent higher market price.
If he liked it to sell at $700 in November, he would love it to sell at $780 now.
We all know that executives sell shares from time to time. I agree with you that the number 42% is scary. Who needs billion of dollars? His wife won't be able to spend them all.....smile guys. GOOG ran up a lot. Just the new investors who bought yesterday at all time high.
I usually sell stocks at all time high except for a little for quick trading.