Facebook's Sandberg Dumps $7.4 Million In Stock

Reuters, Monday, November 5, 2012 8 AM
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Either the ship's officers are edging toward the lifeboats or they're dropping ballast: Facebook Chief Operating Officer Sheryl Sandberg and two other executives dumped millions of dollars worth of stock this week as restrictions on insider trading expired. Sandberg made about $7.44 million by selling roughly 353,000 Facebook shares on Wednesday, which leaves her with 20 million vested shares; Facebook General Counsel Theodore Ullyot and Chief Accounting Officer David Spillane also sold millions of dollars worth of shares this week, according to filings. 

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