Facebook executives sold more than 758,000 shares of Facebook

Reuters reported that Facebook Inc. Chief Operating officer Sheryl Sandberg sold her 353,000 Facebook shares last Wednesday and netted about US$7.44 million (RM22.8 million) while Facebook general counsel Theodore Ullyoy sold about 149,000 shares and chief accounting officer David Spillane sold 256,000 shares. Both of them netted US$3.13 million (RM9.6 million) and US$5.4 (RM16.5 million) respectively.

The sales were part of pre-arranged stock trading plans and was the first by Facebook’s senior management following the world’s No. 1 online social network’s high-profile initial public offering in May this year.

by Terry Brown

Author: Terry KS

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