Sheryl Sandberg sold 946,000 Facebook shares for $26.2M

Third sell off for Facebook COO, has netted nearly $38 million total

Now that Facebook’s lockups are over, and the stock is finally starting to rebound, at least some of its executives and investors are going to be cashing in and a number have already used their position in the company to net themselves millions of dollars.

One of them is Facebook COO Sheryl Sandberg, who sold shares in two chunks, netting herself a total of around $26.2 million, according to a regulatory filing with the Securities and Exchange Commission Friday.

Sandberg picked a good time to sell as her 906,412 shares went for $27.678, and another 40,176 shares were sold at $27.7403 each.

On November 26, after Facebook saw the end of three lockups that spanned four months, the last one seeing the release of around 800 million shares, the stock reached a four month high, hitting $26 a share. And the stock has gone up from there, with it ended trading on Friday up 1.91%, selling at $27.49 a share.

The stock is up 40% since early November.

Executives selling off

This was the third time Sandberg had sold off a piece of her Facebook portfolio.

After the company’s second lockup ended in early November, Sandberg sold around 353,000 shares. 13,392 shares were sold at $20.79, and the other 339,512 were sold at $21.09 a share, netting her $7.4 million. Sandberg also sold roughly 176,000 shares, for $4.2 million, in late November.

Given that she owned around 20 million Facebook shares, the amount that Sandberg has sold off has been relatively small. The three sell offs have netted her nearly $38 million total.

Other Facebook board members who have sold stock include General Counsel Ted Ullyot, who sold a total of 149,075 shares for a total of $3.13 million, and Chief Account Officer David Spillane, who sold 256,000 of his 863,000 shares. Selling them at $21.04, he netted $5.4 million total.

Venture capitalist and Facebook board member Marc Andreessen also sold off more than 2.3 million of his Facebook shares at prices ranging from $22.85 to $23.83 per share, for a total of around $54.1 million. Andreessen, and fellow Facebook director Donald Graham, had previously announced that would be selling off some personal stock to pay their RSU tax bill, but that they will not be selling off any shares beyond that.

Of course, there is one executive that has made it absolutely clear that he is not going to be selling.

According to an 8-K filed in September with the SEC, CEO Mark Zuckerberg will not be selling his Facebook shares for at least a year.

Zuckerberg holds roughly 444 million shares of Class B common stock as well as 60 million shares of Class B common stock issuable upon the exercise of an option.

(Image source: https://www.nytimes.com)