Six Facebook Executives File Form 4s With SEC To Convert Restricted Stock Units Into Class-B Shares

By David Cohen 

What do Facebook Chief Operating Officer Sheryl Sandberg, Vice President of Advertising and Global Operations David Fischer, VP of Engineering Mike Schroepfer, Chief Financial Officer David Ebersman, Chief Accounting Officer David Spillane, and General Counsel Ted Ullyot have in common, besides the company that employs them? All six filed Form 4s with the Securities and Exchange Commission Friday to convert their restricted stock units into a total of 45.3 million class-B shares Oct. 29.

TechCrunch reported that none of the six executives will sell his or her shares, and, as previously reported, Facebook will withhold about 45 percent of those shares to pay the tax bill.

According to TechCrunch, Facebook will withhold 21,143,119 of the class-B shares and pay the tax on the remaining 24,191,281.

TechCrunch added that Sandberg, Fischer, Schroepfer, Ebersman, Spillane, and Ullyot can sell their shares four days after their vesting date of Oct. 29, noting that Co-Founder and CEO Mark Zuckerberg — who said in SEC filings earlier this year that he would not sell any of his shares in the social network for at least one year — does not hold any RSUs.

Readers: How do you think the news of Sandberg, Fischer, Schroepfer, Ebersman, Spillane, and Ullyot filing their Form 4s will affect Facebook’s stock price?

Image courtesy of Shutterstock.