COO Sandberg offloads $91m in Facebook stock

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Facebook Chief Operating Officer Sheryl Sandberg sold about $91 million worth of shares in the social network after the stock topped its $38 initial public offering price for the first time since May 2012.

The New York Post reports that Sandberg sold 2.37m Facebook shares on August 7th, two days after Facebook closed at a record high of $39.19, according to a regulatory filing.

With the latest sale, she has sold more than seven million shares, or about 12% of her total, since the IPO. The holdings include unvested restricted stock units as of the end of 2012 and options.

'There’s no denying that she has tremendous amounts of equity skin in the game,' said David Larcker, a professor of accounting at the Stanford Graduate School of Business.

To access the complete New York Post article hit the link below.

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