Zuck Off: Facebook’s Zuckerberg and Thiel Sell Their Shares

0 Posted by - May 23, 2012 - Career & Business, Economics, Money, Video Games & Apps

Mark Zuckerberg laughing 600 300x178 Zuck Off: Facebooks Zuckerberg and Thiel Sell Their SharesSAN FRANCISCO (MarketWatch) — Facebook Inc. FB +3.71% Chief Executive Mark Zuckerberg has sold 30.2 million shares and director Peter Thiel has sold 16.8 million shares of the social-networking company, according to securities filings published late Tuesday. The sales confirm plans detailed in a prospectus before Friday’s $16 billion IPO. Zuckerberg sold 30.2 million shares at a price of $37.58 for gross proceeds of $1.13 billion; Thiel sold 16.8 million shares for gross proceeds of $633 million. Facebook insiders had told prospective shareholders of their plans in an S-1 filing last week. FacebookFB +3.71% shares were down 0.8% after hours at $30.74.

Source: Market Watch.

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