Facebook took a nosedive in its stock value immediately after going public. But the company has been recovering by bits and has steadily gained a fairly good market value. Facebook’s COO, Sheryl Sandberg, recently sold off 946,558 shares of the company and earned a whopping $26.2 million in return.
Ms. Sandberg certainly does not have to worry about the sheer number of shares she has cashed upon. She still has a huge amount left to be cashed shall the stock rise further in the coming days.
In total, Ms. Sandberg has some 18.7 million shares in the social network which amounts up to a hefty sum at the current stock value. In her recent transactions, Ms. Sandberg has sold a total of 946,588 shares which amount up to a total value of $26.2 million.
The shares were traded against a value of nearly $27 when she decided to let go of them. A number of Facebook personnel have publicly stated that they wouldn’t trade in a specific portion of their shares, a move obviously meant to pacify the new and prospective investors.
Ms. Sandberg, on the other hand, didn’t express any such commitments and thus, is at freedom to have her shares cashed whenever she wants.
Courtesy: Venture Beat