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Facebook COO Sheryl Sandberg has sold about $26.2 million in Facebook stock, according to a regulatory filing Friday.
Sandberg, a Facebook board member, sold the shares in two blocks on Wednesday for a total of more than 946,000 shares at a weighted average share price between $27.678 and $27.7403.
In late October, my colleague Ryan Mac reported that Sandberg?s total?Facebook shares were worth about $420 million.?Facebook shares have spiked since then so that number is likely much higher now.
Facebook shares have performed well since dropping precipitously after its rocky IPO in May. Shares have traded up sharply in the past month in particular. In November, Facebook?s massive IPO lockup requirement expired on 777 million shares but the stock has traded up since then.
Other Facebook insiders have also recently sold shares, such as Marc Andreessen who sold some shares to cover taxes related to the IPO. Board member and early Facebook investor?Jim Breyer also sold shares in late October.
Facebook shares moved up $0.52 or 1.91% to $27.49 on Friday in Nasdaq trading.
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