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Marc Andreessen, Peter Thiel Exchange Oculus VR Shares for Class-B Facebook Shares

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Facebook Directors Marc Andreessen and Peter Thiel received class-B shares in Facebook in exchange for their shares of Oculus VR following the official closing of the social network’s acquisition of the immersive virtual reality technology company earlier this week, and Form 4 filings detailing exercising of restricted stock units and sales of Facebook shares were also filed with the Securities and Exchange Commission Wednesday by Chief Operating Officer Sheryl Sandberg, Chief Product Officer Chris Cox and Chief Technology Officer Mike Schroepfer.

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Facebook Executives, Directors Exercise Restricted Stock Units, Sell Off Shares

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Facebook Chief Operating Officer Sheryl Sandberg, Chief Product Officer Chris Cox, Chief Technology Officer Mike Schroepfer, Vice President and General Counsel Colin Stretch, Chief Accounting Officer Jas Athwal, and Directors Reed Hastings and Erskine Bowles exercised restricted stock units and sold off shares to cover their tax withholding obligations, they reported in Form 4 filings with the Securities and Exchange Commission Wednesday.

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