Facebook stock roundup: Execs offload more stock, directors convert shares

  • SHARES

By Justin Lafferty Comment

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A flurry of Facebook executives and members of the company’s board of directors recently sold shares of Facebook or are planning to do so soon. Board members Erskine Bowles, the former co-chair of the now-defunct National Commission on Fiscal Responsibility and Reform, and Reed Hastings, Netflix CEO, converted Class B shares of Facebook into Class A, making them easier to sell in the future.

A few members of Facebook’s chief level of executives also sold stock, according to documents filed late Wednesday with the Securities and Exchange Commission.

At the close of the market Wednesday, Facebook was valued at $26.65, up a bit from the day’s opening value of $26.37.

  • Jas Athwal, Chief Accounting Officer: converted 1,873 shares of Class B stock into Class A. Sold 125 shares for $3,296.25. Currently has 177,654 shares of Facebook stock.
  • Erskine Bowles, Facebook board member: converted 1,250 shares of Class B stock into Class A. Currently owns 9,166 shares of Facebook stock.
  • Reed Hastings, Facebook board member: converted 1,250 shares of Class B stock into Class A. Currently owns 56,562 shares of Facebook stock.
  • Michael Schroepfer, Chief Technology Officer: converted 8,966 shares of Class B stock into Class A. Sold 45,000 shares for $1,296,081. Currently owns 1,056,689 shares of Facebook stock.
  • David Ebersman, Chief Financial Officer: converted 53,797 shares of Class B stock into Class A. Sold 234,000 shares for $617,292. Currently owns 2,298,485 shares of Facebook stock.
  • Colin Stretch, General Counsel: concerted 8809 shares of Class B stock into Class A. Sold 3,197 shares for $84,368.83. Currently owns 159,307 shares of Facebook stock.
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