Facebook Inc (NASDAQ:FB) executives have aggressively been offloading their holdings to benefit from the company’s soaring stock. Shares of the world’s largest social networking company have jumped more than 136% over the past 12 months. This month, almost every senior Facebook executive has offloaded shares, including COO Sheryl Sandberg.
Facebook CTO’s share sale occurred a few days before the Oculus deal
Facebook Inc (NASDAQ:FB) chief technology officer Mike Schroepfer revealed in his Form 4 filing (first spotted by AllFacebook) with the SEC on March 24 that he has sold 25,000 class-A shares of the company. Schroepfer said he sold shares at $67.17 each. Now he owns 225,892 class-A Facebook shares.
Notably, Schroepfer had also sold 9,787 shares of the company on March 17. His latest sale came just one day before Facebook announced the $2 billion acquisition of virtual reality technology company Oculus VR, which prompted a more than 6% decline in the stock. Moreover, he was last week awarded 160,360 restricted stock units that will expire on March 16, 2024.
Facebook Inc (NASDAQ:FB) director Marc Andreessen said in his Form 4 filing that the Benchmark Founders Fund IV has given 428 class-A Facebook shares to Andreessen 1996 Living Trust, which now owns 3,234,497 shares of the company. Earlier this month, Facebook vice president David Fischer offloaded 36,000 shares at about $70 apiece. Chief operating officer Sheryl Sandberg also offloaded 283,334 class-A Facebook shares on March 13.
Facebook showers RSUs on its top management
On March 19, Facebook Inc (NASDAQ:FB) rewarded RSUs to many other executives besides Mike Schroepfer. Sheryl Sandberg was awarded 208,470 RSUs. Sandberg also sits on the board of The Walt Disney Company (NYSE:DIS). Chief financial officer David Ebersman 128,290 RSUs, general counsel Colin Stretch was awarded 160,360 RSUs, vice president David Fischer received 104,240 RSUs, and chief accounting officer Jas Athwal was awarded 40,090 RSUs. Restricted stock units motivate employees to perform better, and stay with the company for several years.
Facebook Inc (NASDAQ:FB) shares inched up 0.79% to $61.45 at 9:35 AM EDT on Friday.