Legend has it that when famous bank robber Willie Sutton was asked why he targeted banks, he replied, “Because that’s where the money is,” and the same logic applies to why Facebook’s quarterly earnings calls devote so much time to advertising. The social network’s first-quarter earnings call Wednesday was no exception.
Thursday was a big day for Form 4 filings from Facebook executives and board members exercising their restricted stock units, as Chief Financial Officer David Ebersman, Chief Operating Officer Sheryl Sandberg, Chief Technology Officer Mike Schroepfer, Vice President and General Counsel Colin Stretch, Chief Accounting Officer Jas Athwal, and Directors Reed Hastings and Erskine Bowles detailed their trading activities to the Securities and Exchange Commission.
Once again, Facebook Chief Operating Officer Sheryl Sandberg addressed rumors of her departure from the company, this time on NBC’s “Today,” where she said she plans to stay at the social network, and she ruled out the idea of running for political office.
Facebook Chief Operating Officer Sheryl Sandberg’s personal holdings in the company dipped below 9 million shares, as she reported in a Form 4 filing Thursday with the Securities and Exchange Commission that two transactions this week left her with a total of 8,949,066 shares of Facebook class-A common stock.
Facebook’s 2014 annual meeting will be held Thursday, May 22, at 11 a.m. PT, at the Sofitel San Francisco Bay in Redwood City, Calif., and shareholders will vote on the company’s board of directors, as well as on ratifying the appointment of Ernst & Young as Facebook’s independent registered public accounting firm for the fiscal year ending Dec. 31, and on five other stockholder proposals, the social network revealed in a Schedule 14A filing with the Securities and Exchange Commission.
Facebook Weekly Highlights features photos and videos posted to the social network by celebrities and athletes. This week’s edition featured this photo from FC Barcelona’s 4-3 victory over Real Madrid in the “El Clasico” soccer match last week.
When Facebook Chief Operating Officer Sheryl Sandberg left Google to join the social network in 2008, all Google employees were fair game in terms of recruitment, Sandberg said in a court filing for a lawsuit in which neither she nor Facebook are named, as reported by Bloomberg.
Six Facebook executives reported in Form 4 filings with the Securities and Exchange Commission that they were awarded restricted stock units by the company: Chief Operating Officer Sheryl Sandberg, Chief Financial Officer David Ebersman, Chief Technology Officer Mike Schroepfer, Vice President and General Counsel Colin Stretch, VP of Business and Marketing Partnerships David Fischer, and Chief Accounting Officer Jas Athwal.
Whether Facebook Chief Operating Officer Sheryl Sandberg is heading to Disney, running for Senate, or staying put at the social network, one story that is most certainly not a rumor is the fact that she continues to sell off shares in the company.