Jim Balsillie, former BlackBerry chairman and co-chief executive, no longer holds any shares of the company.

According to a document filed with U.S. Securities and Exchange commission, Balsillie was once the company's third-largest stakeholder with more than 26 million shares or roughly 5 percent of the stake in the company in 2011 and by the end of 2012 he sold all his shares. But the documents do not disclose how much of his stocks were sold or when the shares were sold.

At the end of 2011, the stock had a market value below $15 a share which makes Balsillie's stake worth almost $400 million at that time. In 2012 BlackBerry stock (under the ticker symbol RIM) was traded as high as $18.32 a share.

Balsille resigned from the Co-CEO position in January 2012, along with co-founder Mike Lazaridis and both took director roles. Two months later, Balsillie completely exited the company.

Under the leadership of both, the company become the world's most popular smartphone before losing its ground to the competitors like Apple Inc's iPhone and smartphones which are running Google Inc's Android operating system.

Lazaridis handled the tech side of the company while Balsillie handled the accounts. Balsillie was widely credited for putting BlackBarry on the stable financial balance that allowed the company to develop its own devices.

Balsillie joined the company (formerly known as RIM) in the early 1990 when it was a startup and invested $250,000 of his personal money by remortgaging his house. Within a few years RIM launched a clamshell wireless handheld pager which was its first sales successes. 

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