Facebook Insiders Post $80 Million in Stock Sales

http://socialnetworkingnews.org/facebook-insiders-post-80-million-in-stock-sales/

As Facebook shares traded to an all-time-high price, insiders adjusted their statuses to “selling.”

Five Facebook (ticker: FB ) insiders sold 1,043,376 shares for $80,622,486, an average of $77.27 each, from Sept. 4 through Oct. 7. All transactions were conducted as Rule 10b5-1 planned sales.

Chief Operating Officer Sheryl Sandberg sold 850,002 shares of the social network for $65,822,973. She now directly holds 5,661,943 shares, a stake of less than 1% in Facebook. Sandberg also holds 7,983 shares through a trust.

Sandberg’s most recent previous transaction was on Aug. 25, when she sold 283,300 shares for $21,200,000, an average of $74.99 each, through a Rule 10b5-1 planned sale.

Source: online.barrons.com

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