Seven Facebook executives and directors disclosed their exercising of restricted stock units, resulting conversions of class-B shares in Facebook to class-A common shares, and stock sales in Form 4 filings with the Securities and Exchange Commission Friday.
Facebook followed up Wednesday’s Form 8-K/A filing with the Securities and Exchange Commission, in which it stipulated that non-binding advisory votes on the company’s executives’ compensation will be held every three years, with a host of Form 4 filings detailing the exercising of restricted stock units, by Chief Financial Officer David Ebersman, Vice President and General Counsel Colin Stretch, Chief Technology Officer Mike Schroepfer, Chief Accounting Officer Jas Athwal, and Directors Reed Hastings and Erskine Bowles.
Facebook Chief Accounting Officer Jas Athwal and Director Erskine Bowles revealed in Form 4 filings with the Securities and Exchange Commission Wednesday that they had exercised restricted stock units.
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.
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.