SAN FRANCISCO Facebook Inc (FB.O) Chief Operating Officer Sheryl Sandberg sold $3.75 million worth of stock in the company on Tuesday, her second stock sale since trading restrictions on insiders expired last week.
Sandberg sold roughly 176,000 Facebook shares for an average price of $21.24 on Tuesday, according to a regulatory filing on Thursday. Sandberg still owns nearly 19 million vested shares of Facebook, the world's No.1 Internet social network, according to the filing.
Last week, Sandberg sold roughly $7.4 million worth of Facebook stock. Facebook General Counsel Theodore Ullyot and Chief Accounting Officer David Spillane also sold millions of dollars worth of shares last week. All the Facebook executives' sales were part of pre-arranged stock trading plans.
(Reporting By Alexei Oreskovic; Editing by Bernard Orr)
Trending On Reuters
Software maker Microsoft Corp is selling about 1,500 of its patents to Chinese device maker Xiaomi [XTC.UL], a rare departure for the U.S. company and part of what the two companies say is the start of a long-term partnership. Read