Facebook's Sheryl Sandberg cashes in $91 million in stock
The Facebook COO received a fat payday thanks to Wall Street's newfound love of the stock.
The turnaround in Facebook's long-troubled stock has helped COO Sheryl Sandberg to the tune of $91 million.
Sandberg, who has periodically sold some of her holdings since Facebook's May 2012 IPO, on Wednesday cashed in a total of 2.37 million shares at prices ranging from $37.79 to $38.78, according to an SEC filing Facebook made late Friday. The selling came just days after shares of , which was the price set when the company went public. That return to $38 took 14 months.
Sandberg, of course, has made plenty from Facebook's less-than-stellar stock performance. Even before this week's sales, she had banked more than $43 million this year alone. She also has plenty left. The shares Sandberg sold this week represent about 5 percent of her holdings.
Shares of Facebook closed down 4 cents today at $38.50.