Facebook's Sheryl Sandberg sells $26.2M in stock

The COO trimmed her holdings, cashing in some shares at prices not seen since August.

James Martin/CNET

Facebook COO Sheryl Sandberg is turning more of her paper wealth into actual wealth.

After the close of market today, Facebook disclosed in an SEC filing that Sandberg sold shares valued at more than $26.2 million.

The timing was good. She sold more than 946,588 shares at prices ranging from $27.39 to $27.90 -- a level that Facebook hasn't traded at since August. In fact, shares of Facebook have been on a tear in recent weeks, as Wall Street has embraced the company's we're-all-about-mobile message and the biggest so-called lockups on insiders selling their pre-IPO shares have passed. The stock, which rose 1.9 percent today to close at $27.49, has soared about 40 percent since early November.

This is not Sandberg's only stock sale, but it is her biggest to date. Most recently, she sold about $4.2 million worth of shares . And shortly before that, she cashed in $7.4 million worth.

Yahoo Finance

About the author

Paul Sloan is editor in chief of CNET News. Before joining CNET, he had been a San Francisco-based correspondent for Fortune magazine, an editor at large for Business 2.0 magazine, and a senior producer for CNN. When his fingers aren't on a keyboard, they're usually on a guitar. Email him here.

 

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