Facebook COO Sheryl Sandberg Sells More Shares

Facebook Chief Operating Officer Sheryl Sandberg sold off 946,588 more Facebook shares at prices ranging from $27.39 to $27.90 apiece, netting her more than $26.2 million, according to reports.

CNET pointed out that the transaction was the largest of the three times Sandberg has sold stock in the social network, and VentureBeat added that the sales were predetermined and automatically triggered when Facebook shares reached about $27.678 and $27.7403, respectively.

For those looking for a deeper meaning in Sandberg’s stock sales, the COO still holds 18.7 million shares, according to Bloomberg.

Facebook shares closed trading Friday at $27.49 each after the stock went public May 18 at $38 per share.

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