Eight Facebook insiders exercised some RSUs and then sold some of the new shares they acquired this week
Facebook insiders have been unloading their shares of the social network systematically for a long time, and now we have a whole raft of other sales. Regulatory filings with the Securities and Exchange Commission indicate that Chief Operating Officer Sheryl Sandberg and seven other insiders moved some Facebook (NASDAQ:FB) shares within the past week.
Sheryl Sandberg exercises RSUs
In transactions dated Feb. 15, Sandberg exercised some of her restricted stock units to acquire about 43,200 Class B shares of Facebook (NASDAQ:FB). She then converted those from Class B to Class A shares and sold 22,539 of them a price of $76.14 per share in a transaction on Feb. 17. That sale brought Sandberg about $1.7 million.
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The COO was left with about 5.2 million Class A Facebook shares under her direct ownership and 22,920 under indirect ownership through a family trust.
Facebook CTO’s trust dumps all its shares
Chief Technology Officer Michael Schroepfer was extremely busy this week, exercising tens of thousands of restricted stock units in multiple transactions between Feb. 15 and Feb 17. He also sold a lot of shares on those same days, unloading nearly 125,000 shares of Facebook (NASDAQ:FB) for around $76 each and bringing in around $9.5 million through the sales of those shares.
The CTO was left with 460,419 Class A shares under his direct ownership after the share sales, but his trust dumped all of its shares, leaving it with none after the share sales.
Other Facebook insiders move shares around
Facebook (NASDAQ:FB) director Susan Desmond-Hellmann also exercised some restricted stock units, although she did not sell them. She acquired 1,250 new Class A shares, bringing her total ownership of Facebook to 13,159 shares.
Chief Financial Officer David Wehner also exercised some restricted stock units, transforming about 24,000 of them into Class A shares. He then sold 10,665 of them in a transaction on Feb. 17 for about $76.11 per share, earning him about $812,000. After that sale and the exercise of his stock units, Wehner was left with 13,455 Facebook shares under his direct ownership.
David Fischer, vice president of marketing and business partnerships, exercised about 152,000 restricted stock units. He sold 78,257 of his Class A shares in transactions on Feb. 17 for about $76.15 per share, earning him about $6 million and leaving him with 422,763 Facebook shares under his direct ownership.
Chief Accounting Officer Jas Athwal also exercised some restricted stock units and sold 2,811 shares for about $76.16 per share in transactions on Feb. 17. Athwal earned about $214,000 from the share sales and was left with nearly 129,000 Facebook shares under direct ownership after the RSU conversions and share sales.
General Counsel and Vice President Colin Stretch converted some RSUs as well and then sold 24,641 of them in a pair of transactions on Feb. 17. He sold those for between $75.10 and $76.15 per share, earning around $1.86 million and leaving him with about 79,000 Facebook (NASDAQ:FB) shares under his direct ownership.
And finally, Chief Product Officer Christopher Cox converted some RSUs as well and then sold some shares on Feb. 17. He unloaded 51,115 shares for about $76.15 each and 15,500 for $75.10 each, earning him about $5.03 million in the process and leaving him with about 642000 shares under his direct ownership and nearly 106,000 shares under indirect ownership through a couple of trusts.