Facebook co-founder Dustin Moskovitz has sold off 1.35 million Facebook shares in the social networking company over the last 2 weeks. Moskovitz converted some of his Class B shares (voting rights) to Class A shares.
He has been getting rid of stock at 150,000 shares per day since a couple of days after the lock-up period.
Moskovitz offloaded 1.35 million shares in total at prices that range from $19.19 to $19.99 each. He has been able to raise around $26.2 million through the sale. Moskovitz still owns 6.15 million class A shares and 106.8 million Class B shares according to filings with the SEC.
Early Facebook investor Peter Thiel sold around $400 million worth of Facebook stock last week, which takes his stake down by 72%.
[The Register UK]