Feeds

Sheryl Sandberg offloads $41.5m in Facebook shares in just 6 weeks

Chief Operating Officer ditched $26m as a little Xmas bonus

Boost IT visibility and business value

Facebook's Chief Operating Officer has divested herself of MORE Facebook shares, ditching just under a million on Friday and netting a cool $26.2m. A little something for Christmas, perhaps?

It bumps up the total cash haul Sandberg has made from Facebook shares to $41.5m. That's all since the end of October when the directors' share lockup expired and she was allowed to start selling them.

Chief Ops bod Sandberg sold 946,588 shares at prices between $27.30 to $27.90 on 5 December as detailed by a filing with the SEC. This would have brought in approximately $26.2m - the biggest value single sell-off that the Chief Operating Officer has made yet. Venturebeat says that the share sell-off was automatically triggered by the stock price hitting a certain level - which suggests it wasn't a sign of anything portentous about the strength of the company or future direction of stock prices.

Sandberg still holds 18.7 million shares in Facebook.

Previous to the multimillion scoop on Friday, Sandberg sold 176,452 shares on 19 November at $23.95 each - netting $4.2m.

And on 6 November, just after the directors' shares lock-up period expired, Sandberg sold 176,452 shares at an average of $21.24 each, bringing in $3.7m.

On 31 October she sold 352,904 and that sale turned in a cool $7.4m.

Zuckerberg has remained resolute that he won't be selling any shares. Some senior investors such as Peter Thiel have also heavily cashed out of Facebook. The share price is currently $27.84 - down from a high of $45 earlier this year. ®

Build a business case: developing custom apps

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.