SAO PAULO (Reuters) -Nu Holdings, which runs Brazilian digital lender Nubank, said in a statement on Monday its Chief Executive Officer David Velez sold 33 million class A shares of the company through Rua California Ltd.

The sale, which was motivated exclusively for personal asset planning purposes, represents about 3.5% of Velez's shares in Nu Holdings, and 0.7% of the total of shares issued by the company, the statement added.