FoMoCo’s Executive Chairman Bill Ford sold 1 million shares of his common stock holdings last week according to the SEC. Bill made $5.05 million on the sale according to a Form 4 filing. He still owns close 5 million shares along with 400,000 more through the company plan, voting trust and family trusts.

Ford spokesman Mark Truby said that the move was a completely personal financial planning decision on Mr. Fords part. Truby said that he sold the shares so he could get rid of debt that he incurred when he bought stock option shares outright in 2005 and 2006.

Last week was a week designated to officers and directors of Ford to buy and sell stock.

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Ford Motor Company ( NYSE: F )said today that it is planning to sell close to $500 million worth of new stock and will use it to buy bonds from Ford Motor Credit. According to company spokesman Bill Collin, the transaction will help Ford strengthen its balance sheet by cutting debt.

Ford hasn’t given any schedule on when the deal will be completed but Collins said that Goldman Sachs Group is handling the sale of the new shares.

Ford has traded a total if $927 million debut for equity in the past 12 months

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