Facebook Inc. (NASDAQ: FB) did see some key executives sell shares into the lockup expiration last week.
Sheryl Sandberg, who is chief operating officer, and often considered the adult supervision at Facebook, acquired shares via options but some 13,392 shares were sold at an average of $20.79 and another 339,512 shares were sold at an average of $21.0958 per share.
David Spillane, chief accounting officer, disposed of some 256,000 shares at an average of $21.0351 per share.
Theodore Warren Ullyot, general counsel and secretary, disposed of 142,375 shares at an average of $20.986 per share and another 6,700 shares at $21.1441 per share on average.
We would have seen these filings hit earlier than Friday evening had it not been for the markets being closed due to the storm in the Northeast last week.
We would advise that none of the share sales entirely took these insiders out of Facebook as a shareholder. Some of the shares are also locked up for quite some time ahead. Facebook shares opened down slightly to $21.08, against a 52-week range of $17.55 to $45.00.
JON C. OGG