Sheryl Sandberg sells $91m of Facebook stock

Facebook’s CEO, Sheryl Sandberg, sold $91m worth of the social network’s stock. (File photo: AFP)

The number two executive at social networking giant Facebook, Sheryl Sandberg, has sold $91 million of the company’s stock, according to U.S. securities filings.

Facebook shares sold at their initial public offering in May 2012 for $38, but soon after dropped in value. Only in the past days it has recovered and surpassed that value.

The company shares closed Friday at $38.50.

Sandberg still holds more than 25 million shares, representing approximately $1 billion, according to the filing, released late Friday.

Last Update: Wednesday, 20 May 2020 KSA 09:41 - GMT 06:41