Some of venture capitalist Marc Andreessen’s funds dumped all of their Facebook shares
Facebook insiders have continued to dump shares of the social network, with General Counsel Colin Stretch and Vice President David Fischer being the most recent to sell some shares. The two executives sold shares in transactions dated Feb. 3 and 4.
Marc Andreessen, who has served on Facebook’s (NASDAQ:FB) board for several years, also unloaded a huge number of shares onto the market.
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According to regulatory filings with the Securities and Exchange Commission, David Fischer, Vice President of Marketing and Business Partnerships, sold 18,750 Facebook (NASDAQ:FB) shares in three transactions dated Feb. 3 and 4. He sold those shares for between $75.16 and $76.13 each, earning him approximately $1.4 million. After the transactions, Fischer was left with 349,253 Facebook shares under his direct ownership.
In a transaction dated Feb. 3, Colin Stretch, General Counsel, vice president and secretary, sold 1,000 shares for $75.16 each. He earned $75,160 from that share sale. After he offloaded those shares, he was left with 58,722 shares of Facebook under his direct ownership.
Facebook (NASDAQ:FB) board member Marc Andreessen also sold some shares of the social network in several transactions dated Jan. 30. The Andreessen Horowitz Fund III, L.P. sold all of its approximately 505,000 shares on that date in two transactions for $77.31 and $78.04 per share. The fund raked in about $39.1 million by selling all those Facebook shares.
The AH Parallel Fund III, L.P. sold all of its 349,176 shares for $77.31 and $78.04 each in two transactions on Jan. 30, earning somewhere in the realm of $27.1 million. Andreessen’s AH Capital Management LLC sold all of its 280 shares in two transactions for $77.31 and $78.04 each, earning around $21,700.
After all of those share sales, the Facebook (NASDAQ:FB) board member was left with 7,742 Facebook shares under his direct ownership, 34,765 owned indirectly by the Andreessen 1996 Charitable Remainder Unitrust, and about 1.6 million shares owned indirectly by the Andreessen 1996 Living Trust.
As of this writing, shares of Facebook (NASDAQ:FB) were up by 0.21% to $74.64 per share.