Facebook’s Sheryl Sandberg sells US$91 million of shares

Facebook (NASDAQ: FB)  COO Sheryl Sandberg last week sold approximately 2.37 million Facebook shares at an average weighted selling price of about US$38 a share, according to a recent SEC filing.

The sale of stock by the former Google executive was made under a trading plan from July 2012. It came as the stock finally climbed above its IPO price of US$38. Facebook stock was trading at US$24.71 a share just a month ago, but has risen dramatically since announcing surprisingly strong earnings on July 24.

The proceeds of the four series of transactions enacted on behalf of Sandberg on Aug. 7 are approximately US$91 million based on average weighted selling prices ranging from US$38.3826 to US$38.925. The series of stock sales included 2,274,095 shares, another of 91,500 shares, plus smaller sales of 6,496 and 200 shares.

The SEC Form 4 filing states that Sandberg’s trading plan implemented last year was “pursuant to a Rule 10b5-1 trading plan.” A 10b5-1 plan is a regulatory option sometimes utilized by company insiders to help avoid concerns regarding improper insider trading. Bloomberg reports that Sandberg still owns more than 14 million Facebook shares. Facebook’s market cap is over US$90 billion.

The Australian Financial Review says “good quality Australian shares that have a long history of paying dividends are a real alternative to a term deposit.” Get 3 Stocks for the Great Dividend Boom in our special FREE report. Click here now to find out the names, stock symbols, and full research for our three favourite income ideas, all completely free!

More reading

A version of this article, written by Tim Brugger, originally appeared on

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.