(MENAFN) Facebook Inc Chief Operating Officer Sheryl Sandberg and two other executives have sold hundreds of thousands of shares in the social networking company as part of pre-arranged stock trading plans, Reuters reported.
Sandberg sold 353,000 shares worth about USD7.44 million, according to a filing with the SEC.
Facebook General Counsel Theodore Ullyot sold slightly more than 149,000 shares for USD3.13 million, while Chief Accounting Officer David Spillane sold 256,000 shares worth USD5.4 million, according to filings.
The world's No.1 online social network became the only US company to debut with a market value of more than USD100 billion. However its value has dropped more than 40 percent afterwards on concerns about its long-term money-making prospects.
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