Facebook Co-Founder and CEO Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg received the most withheld votes of the eight members of the social network’s board of directors that were re-elected at its annual meeting Tuesday, according to the Form 8-K Facebook filed with the Securities and Exchange Commission Thursday.
Granted, it’s only one seat, but critics of Facebook’s board of directors bemoaning the lack of women, aside from Chief Operating Officer Sheryl Sandberg, will likely welcome the addition of University of California, San Francisco Chancellor Susan Desmond-Hellmann.
A few Facebook executives rang in the new year by selling off some of their stock in the company, making a tidy sum in the process. Facebook board member Donald Graham, Vice President of Engineering Michael Schroepfer, General Counsel Ted Ullyot, and Chief Accounting Officer David Spillane all sold some of their social network stock in the past few days, according to Securities and Exchange Commission filings. And Chief Operating Officer Sheryl Sandberg converted a portion of her shares from class-B to class-A, making them easier to sell.
Facebook board member Marc Andreessen unloaded some 54 million worth of Facebook shares Monday, but that doesn’t indicate a loss of confidence in the social network, as he made the move to cover taxes that he owes on his holdings.
Early major investor Peter Thiel has dumped much of his Facebook stock, as have Co-Founder Dustin Moskovitz, Accel Partners, and Microsoft. Co-Founder and CEO Mark Zuckerberg has the ability to unload some of his roughly 500 million shares in October, but according to recent Securities and Exchange Commission filings, he won’t do that for at least 12 months.
The appointment earlier this week of Facebook Chief Operating Officer Sheryl Sandberg to the social network’s board of directors eliminated the lack of female voices on the group, but another type of voice is still lacking, according to blog Seeking Alpha.
Facebook made a move to silence critics who complained about the lack of women on its board of directors by adding a familiar name to the group: Chief Operating Officer Sheryl Sandberg.