Facebook COO Sheryl Sandberg Sells $5 Million In Shares

Posted Feb 26, 2013

Facebook chief operating officer Sheryl Sandberg has sold $4.9 million in shares according to a Securities and Exchange Commission filing from Friday.  The sales of the stock was made through a 10b5-1 trading plan according to BI.  This provides a safe harbor for company executives with insider knowledge to make regular sales according to BusinessInsider.  Sandberg has been using the plan to steadily divest small amounts of her Facebook shares since her lockup has expired.  Sandberg owns shares that are worth about $485 million according to the filing.  The $5 million is about 1% of her holdings in the company excluding unvested stock awards.