Facebook Inc (NASDAQ:FB) insiders have been slowly exiting their own company, with several executives gradually selling off shares of their company. Chief Operating Officer Sheryl Sandberg has rapidly unloading her shares, although she still owns millions. This time though, it isn’t Sandberg who’s selling.
Ebersman sell Facebook’s stock
Regulatory filings with the Securities and Exchange Commission show that Chief Technology Officer Mike Schroepfer and Chief Financial Officer David Ebersman have both sold off more shares of Facebook Inc (NASDAQ:FB). Both Ebersman and Schroepfer have also been taking part in the recent space of sell-offs by Facebook insiders.
Q2 Hedge Funds Resource Page Now LIVE!!! Lives, Conferences, Slides And More [UPDATED 7/12]
Simply click the menu below to perform sorting functions. This page was just created on 7/1/2020 we will be updating it on a very frequent basis over the next three months (usually at LEAST daily), please come back or bookmark the page. As always we REALLY really appreciate legal letters and tips on hedge funds Read More
According to these latest filings, Ebersman unloaded 11,700 shares on Wednesday at a price of $63.38 per share. He then sold an additional 11,700 shares on Thursday for $63.86 per share. After those two sales, he had about 328,000 more shares of Facebook Inc (NASDAQ:FB) remaining. He also indirectly owned more than 400,000 additional shares through two different trusts.
Schroepfer exercises options
Another regulatory filing shows that Ebersman exercised some options last week. On May 28, he disposed of 20,000 stock options to buy Class B shares of Facebook Inc (NASDAQ:FB) on May 28. Those options expire Jan. 11, 2019. He then acquired 20,000 Class B shares before turning around and selling those shares. At the end of those transactions, he had 63,940 derivative securities in Facebook left. On May 28, he also acquired 20,000 Class A Facebook Inc (NASDAQ:FB) shares and then sold them the same day for $63,38 per share, leaving him with 182,485 Class A shares under his direct ownership.
In addition to Sandberg, Ebersman and Schroepfer, other insiders who have been selling Facebook Inc (NASDAQ:FB) stock recently include director Susan Desmond-Hellmann, Chief Product Officer Christopher Cox, and directors Donald Graham, Reed Hastings, Marc Andreessen, Peter Thiel, and Erskine Bowles.
The date of Sandberg’s last sale of Facebook Inc (NASDAQ:FB) stock was May 15, so it’s been more than two weeks since then. She filed four filings reporting her sales in April, compared to just two in May, so at least for last month, it appeared like her sales of her company’s stock tapered off, at least for now.