According to an SEC filing, Facebook Inc (NASDAQ:FB) COO Sheryl Sandberg has sold a large amount of company stock, including $18 million on Thursday. Since February, Sandberg sold over $152 million worth of shares at prices that range between $58 per share to over $72.
These were scheduled transactions rather than events taking place at the company. Sandberg sold the stock in increments of around $17 million since 2012. The sale from this past Thursday is not out of the ordinary.
After the sale on Thursday, Sandberg still owns almost 8 million Facebook shares. Sandberg runs a charity called Lean In so some of this money may be going towards initiatives related to that cause. Sandberg joined The Giving Pledge in May, which vows to give at least half of her wealth to charity. According to Forbes, Sandberg is worth around $1 billion.