Uncle Sam, California Benefit From Facebook Employees' Stock Windfall
On Monday, rank-and-file Facebook employees will be able to sell their stock, which officially came to fruition Thursday. Collectively, the roughly 225 million shares are worth about $5.2 billion, based on Wednesday's closing price of $23.23 apiece. But it's not just Facebook employees who are excited for a potential sell-off -- the federal and California governments stand to profit from this, as well.
On Monday, rank-and-file Facebook employees will be able to sell their stock, which officially came to fruition Thursday. Collectively, the roughly 225 million shares are worth about $5.2 billion, based on Wednesday’s closing price of $23.23 apiece. But it’s not just Facebook employees who are excited for a potential sell-off — the federal and California governments stand to profit from this, as well.
As CNNMoney notes, Facebook employees will be heavily taxed:
Unlike stock options, which traditionally carry a “strike” price at which recipients can purchase shares, restricted stock units are granted outright at zero cost to employees.
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