NEW YORK CITY, US: The number two executive at social networking giant Facebook, Sheryl Sandberg, has sold US$91m of the company's stock, according to US securities filings.
Facebook shares sold at their initial public offering in May 2012 for US$38, but soon after dropped in value. Only in the past days it has recovered and surpassed that value.
The company shares closed Friday at US$38.50. Sandberg still holds more than 25 million shares, representing approximately US$1bn, according to the filing, released late Friday.
Source: AFP, via I-Net Bridge