Facebook COO Sheryl Sandberg sold 946,588 Facebook shares across two separate transactions on Wednesday, according to a new filing with the Securities and Exchange Commission. Sandberg’s sales netted her $26.2 million.
The sale comes amid a bit of a stock recovery for Facebook, which closed the week at $27.48. Sandberg’s transactions were pre-determined sales, VentureBeat has learned, meaning they automatically kicked in at around $27.678 and $27.7403 respectively. Smart money, Sheryl!
You may recall that Facebook CEO Mark Zuckerberg and board members Marc Andreessen and Donald Graham previously committed to only selling a portion of their holdings to cover their tax liabilities. Sandberg made no such commitment, though she has proven to be rather philanthropic with her Facebook earnings. The female executive recently gave away nearly 500,000 shares in a generous gift valued at $11.8 million.
Don’t read too much into the most recent transactions. Ms. Sandberg has plenty of vested Facebook shares to spare about 18.7 million of them.