Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Facebook's Sandberg sells $91m in shares  Join our daily free Newsletter

MENAFN - Khaleej Times - 14/08/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Facebook Inc chief operating officer Sheryl Sandberg sold about 91 million worth of shares in the social network after the stock topped its 38 initial public offering price for the first time since May 2012.

Sandberg sold 2.37 million Facebook shares on August 7, two days after Facebook closed at a record high of 39.19, according to a regulatory filing. With the latest sale she has sold more than seven million shares, or about 12 per cent her total, since the IPO. The holdings include unvested restricted stock units as of end-2012 and options.

"There's no denying that she has tremendous amounts of equity skin in the game," said David Larcker, a professor of accounting at the Stanford Graduate School of Business in Stanford, California. "I think it's prudent for diversification and other kind of purposes to take advantage of the value that she has, and put it into alternative things." Facebook stockhas surged 44 per cent this year, buoyed by the company's increasing success in generating revenue from advertising on mobile devices. After one of the worst IPOs in a decade, the world's largest social network has focused on ads for smartphones and tablets, and is now projected to reach sales of more than 16 billion by 2017. The shares fell less than one per cent to 38.22 at the close in New York today.


Sandberg, who joined Facebook in 2008, has periodically sold stock in the Menlo Park, California-based company since the IPO last year.

Tucker Bounds, a spokesman for Facebook, declined to comment. In the past year, Sandberg has sold a total of 7.3 million shares for a total value of 221.5 million, according to InsiderScore.com, which monitors insider transactions. All of the sales were completed under trading regulations that allow executives to cash out a portion of their holdings when stocks reach predetermined prices.

 


Khaleej Times




  MENA News Headlines
 Jul 29 2016 - Saudi injects billions in Asia to draw clients for its oilMENAFN
(MENAFN) With crude prices deteriorating by more than half in the previous two years, the Saudis and other oil-rich nations are basically fighting to lock in and guarantee customers, according to the ...

 Jul 29 2016 - Oman's logistics flourish amid steady political climateMENAFN
(MENAFN) the logistics sector in Oman is not projected to be impacted although oil prices continue to fall, on the back of the vast investments being made in ports, airports and roads sectors ...

 Jul 29 2016 - Kuwait supports Niger's infrastructure with major loanMENAFN
(MENAFN) The Kuwait Fund for Arab Economic Development (KFAED) closed USD19.7 million loan arrangement with African Niger to fund a vital transportation scheme.Accordingly, this is the 12th loan ...

 Jul 29 2016 - Ooredoo SSM's sell iTunes, Facebook, Steam, Xbox, Google Play vouchers and moreThe Peninsula
(MENAFN - The Peninsula) Ooredoo and Osool Media officials after signing a partnership agreement. Doha: Ooredoo, in partnership with Osool Media, have today announced the official launch of a ...

 Jul 29 2016 - Diversions on East Industrial Road, Al Mamoura Underpass and service road on D-Ring RoadThe Peninsula
(MENAFN - The Peninsula) Doha: The Public Works Authority (Ashghal) has announced that it will put in place a temporary diversion on part of the southbound lanes of the East ...

 Jul 29 2016 - Petrol prices to go up marginally in AugustThe Peninsula
(MENAFN - The Peninsula) DOHA: Petrol prices will see a 5 dirhams rise in August, according to the new price list issued by the Ministry of Energy and Industry. Both Super grade petrol and ...

 Jul 29 2016 - Qatar- HH the Emir Holds Session of Talks with Argentinian PresidentThe Peninsula
(MENAFN - The Peninsula) Buenos Aires: HH the Emir Sheikh Tamim bin Hamad Al-Thani and President of the Argentine Republic, Mauricio Macri, held a session of official talks on Thursday night ...

 Jul 29 2016 - Qatar- Photo Album: Emir in ArgentinaThe Peninsula
(MENAFN - The Peninsula) if(window.innerWidth < 728){ googletag.display('div-gpt-ad-796530061225000279-1'); } ...

 Jul 29 2016 - Brexit heralds a new era in UK-GCC relations?The Peninsula
(MENAFN - The Peninsula) By Sean Evers You";re landing at New York";s LaGuardia Airport on the 'expressway” approach—it";s called that because you come in low enough to buzz the ...

 Jul 28 2016 - Wagner rips apart rusty ZimbabweThe Peninsula
(MENAFN - The Peninsula) Zimbabwe batsman Hamilton Masakadza runs past bowler Neil Wagner during the first day of the first test match in a series of two tests between New Zealand and hosts Zimbabwe ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help