Facebook’s star COO Sheryl Sandberg sold 5% of her shares (totalling 2.37 million shares) last week, reportedly worth $91 million, after Facebook stocks passed the original $38 IPO price for the first time since the social media giant became a publicly traded company in May 2012.
The move follows a variety of other such sales from Facebook stock owners over the past two weeks, including Facebook’s CFO David Ebersman, who sold 223,400 shares for approx. $8.4 million, the company’s new general counsel Colin Stretch, who sold 20,800 shares for approx. $760,000, Chief Technology Officer Mike Schroepfer, selling 315,000 shares for approx $10.6 million, and Chief Accounting Officer Athwal Jas, who sold 25,000 shares for around $887,000.
Over the past few weeks, Facebook’s stock has continued to grow, with sharing prices showing over 40 percent growth compared to second-quarter revenue.
For a while there it seemed the IPO was a monumental disaster; at one point, the stock was at only $10 a share. But Facebook was able to make a huge comeback last month, and still continues to rise.
Sandberg’s trades were all reportedly sold at a minimum of $38 a share.
The sale was the largest Sandberg has been involved in since Facebook first became public, though she did make a few similar decisions throughout 2012, totalling over $50 million in stocks sold.
Today, the Silicon Valley-based executive, known for advising women to be more assertive in the workplace, currently boasts over 14 million shares of Facebook, worth reportedly over $530 million at today’s currently traded stock prices. The 43-year-old woman is reportedly worth $400 million.
Facebook CEO Mark Zuckerberg owns approximately 485 million shares of Facebook.
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