Facebook Co-Founder and CEO Mark Zuckerberg detailed his conversion of 60 million shares of class-B common stock to class-A in a Form 4 filing with the Securities and Exchange Commission, as well as a donation of 18 million class-A shares, while Chief Operating Officer Sheryl Sandberg sold more than 280,000 shares in two transactions.
Zuckerberg converted the 60 million class-B shares he purchased last week to class-A shares, after which he moved 18 million to those shares to Mark Zuckerberg, Trustee of the Mark Zuckerberg Trust dated July 7, 2006, and announced the donation of those 18 million shares to Silicon Valley Community Foundation.
Zuckerberg and his wife, Priscilla Chan, made a similar donation to the SVCF last year, and the group said its mission is to “advance innovative philanthropic solutions to challenging problems, engaging donors to make our region and world a better place for all.”
He now holds 90,432,762 shares in the company.
Sandberg sold 268,234 shares of Facebook class-A common stock at $54.6146 per share, and another 15,100 at $55.081 apiece. She now holds 10,873,505.