Facebook chief operating officer Sheryl Sandberg recently sold close to 2.4 million shares in the social network according to a regulatory filing. Sandberg took home close to $91 million just a few days after the stock surpassed its initial public offering value of $38 for the first time and marks the largest selloff of any Facebook executive since the stock passed that mark on July 30.
Share value in the social network has climbed substantially since Facebook reported second quarter earnings late last month that beat analysts’ expectations. As of writing, it’s up 46 percent over the past couple of weeks. For reference, the stock was trading around $26 before the announcement.
Sandberg is no stranger to parting ways with her Facebook stock. She sold off around $50 million last year following Facebook’s decision to go public in May 2012. The latest sale represents only about five percent of her total holdings in the company which means there’s plenty more money to be had when the time is right.
Facebook CEO Mark Zuckerberg sold off 30.2 million shares during last year’s IPO but hasn’t sold any more since. He pointed out last year that he had no plans of selling any more stock until at least September 2013.
At last check, Zuckerberg owned somewhere around 444 million shares - a haul that would be worth more than $17 billion as of writing. Whether or not he plans to part ways with any of those shares next month is unknown at this time.
