Facebook account executives sold $15 million worth of the social networks stock this past week after filing the required documents with the Federal Trade Commission. Among executives selling off part of their holdings were Chief Operating Officer Sheryl Sandberg, General Cousel Theodore Ullyot, and Chief Accounting Officer David Spillane.
With Facebook’s IPO “lockup” now complete more than 230 million shares of the company’s stock are available for sale.
Originally priced at $38 per share the company’s stock closed on Friday at $21.18, still well above its low of $18 per share.
On November 14 more than 800 million shares will be unblocked, more than doubling currently available stock inventory as of September 30 trading.
Among stock sales were 256,000 shares by David Spillane, 149,000 shares by Theodore Ullyot and 343,000 shares by Sheryl Sandberg. Ullyot still holds an additional 1.27 million shares while Sandberg is the owner of more than 20 million additional Facebook shares.