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.

Related Stories
Mediabistro Course

Social Media 201

Social Media 201Starting October 13, Social Media 201 picks up where Social Media 101 left off, to provide you with hands-on instruction for gaining likes, followers, retweets, favorites, pins, and engagement. Social media experts will teach you how to make social media marketing work for your bottom line and achieving your business goals. Register now!