Facebook (FB) Investors are Nervous; Another Large Lock-Up Just Expired
Tweet
Share
E-mail
Facebook's Sandberg
Get Alerts FB Hot Sheet
Join SI Premium – FREE
Facebook (Nasdaq: FB) shares are indicated for a lower open Wednesday as investors brace for lock-up provisions that expired on Monday.
About 229 million shares have been freed up for insiders to unload, according to market data. The shares will be a mix of stock issued before 2011 as well as options held by insiders.
Two execs in particular -- COO Sheryl Sandberg and CFO David Ebersman -- had larger portion of their restricted stock units (RSUs) be eligible for conversion last Friday. CNET notes that Sandberg's holdings are worth $396 million, post tax. Ebersman is at $48.4 million, also sans tax.
In total, about 1.2 billion Facebook shares are expected to hit the market before the end of 2012. Future lock-up expiration dates are on November 14th (804 million shares), December 14th (155.9 million), and May 18th 2013 (47.3 million).
Shares are down about 1.6 percent early.
About 229 million shares have been freed up for insiders to unload, according to market data. The shares will be a mix of stock issued before 2011 as well as options held by insiders.
Two execs in particular -- COO Sheryl Sandberg and CFO David Ebersman -- had larger portion of their restricted stock units (RSUs) be eligible for conversion last Friday. CNET notes that Sandberg's holdings are worth $396 million, post tax. Ebersman is at $48.4 million, also sans tax.
In total, about 1.2 billion Facebook shares are expected to hit the market before the end of 2012. Future lock-up expiration dates are on November 14th (804 million shares), December 14th (155.9 million), and May 18th 2013 (47.3 million).
Shares are down about 1.6 percent early.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citigroup set to join top banks in Anthropic IPO - Bloomberg
- Bessent on bonds: buyback could be more than 4 billion - CNBC
- Startup Micro1 offering $12.5M for Spirit Airlines data - Business Insider
Create E-mail Alert Related Categories
Insider Trades, Insiders' Blog, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
