Twitter CEO, co-founders not to sell shares after lockup ends

Mon Apr 14, 2014 9:58pm IST

A portrait of the Twitter logo in Ventura, California December 21, 2013. REUTERS/Eric Thayer/Files

A portrait of the Twitter logo in Ventura, California December 21, 2013.

Credit: Reuters/Eric Thayer/Files

Related Topics

Stocks

   
Coal Mining In The Punjab

Coal Mining In The Punjab

In Choa Saidan Shah miners dig coal with crude pick axes and load it onto donkeys to be transported to the surface earning a team of 4 workers around $10 to be split between them.  Slideshow 

REUTERS - Twitter Inc co-founders, Jack Dorsey and Evan Williams, and Chief Executive Richard Costolo have informed U.S. regulators that they did not plan to sell the microblogging company's shares after post-IPO restrictions are lifted in May.

Twitter, which debuted on the New York Stock Exchange on Nov. 7, had a 180-day restriction on sale of shares by early investors.

Another Twitter investor, Benchmark, informed regulators that it did not plan to sell the stock before or immediately after the expiration of the lockup period on May 5.

Benchmark Capital Management is among the top five investors in Twitter.

Twitter's shares, which were priced at $26 each in its IPO, were up 2 percent at $40.95 in early trading on the New York Stock Exchange.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Kirti Pandey)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

WTO Row

WTO Row

U.S. raises stalled WTO talks with India, no sign of breakthrough  Full Article 

Fed Policy

Fed Policy

Fed presses forward with bond buying, cites uptick in inflation.  Full Article 

Q2 Profit Slips

Q2 Profit Slips

Samsung sees tough second half  Full Article 

Chinese Economy

Chinese Economy

China should set lower 2015 GDP growth target of 6.5-7 percent - IMF  Full Article 

Default Imminent

Default Imminent

Argentina fails to reach debt agreement   Full Article 

Economy Reboots

Economy Reboots

U.S. economy back on track with strong second-quarter rebound  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage