With Facebook’s stock price finally surpassing its initial public offering level of $38 per share and even topping the $40 mark, the company’s top management continues to take advantage and sell off shares, with Chief Technology Officer Mike Schroepfer and Vice President and General Counsel Colin Stretch detailing their latest transactions in Form 4 filings with the Securities and Exchange Commission late Tuesday.
Facebook Chief Financial Officer David Ebersman sold 200,000 class-A shares in the company at its initial public offering price of $38 per share this past week, as well as 11,700 shares at $37.29 apiece and another 11,700 at $37.68, according to his Form 4 filing with the Securities and Exchange Commission.
Facebook held its first-ever annual meeting Tuesday at the Westin San Francisco Airport in Millbrae, Calif., and Co-Founder and CEO Mark Zuckerberg addressed shareholders’ concerns about the company’s stock price, which has never approached its initial public offering mark of $38 per share since its first day of trading last May 18.
On May 18, 2012, Facebook became a publicly traded company. Facebook’s stock has had some definite peaks and valleys since then. The value of the company has yet to reach its opening mark of $38 per share, settling in the $26-$28 neighborhood. MarketWatch compiled a timeline of Facebook’s year after the initial public offering.