Exiting Facebook board member dumps $38 million in stock

Jim Breyer, the early Facebook investor who isleaving the company's board, has dumped roughly $38 million worth of Facebook stock, according to a Securities and Exchange Commission filing published Monday.

Breyer is a venture capitalist whose firm, Accel Partners, was one of the social network's first investors. The filing from Wednesday shows that he sold 1.3 million of his own shares, valued between $28.19 and $29.03. The amount is a drop in the bucket for Breyer, who is still hanging onto 7.8 million shares, which were worth roughly $223.6 million at the time of the filing.

Breyer has parted with Facebook stock before. He dumped even more shares last October, when he sold more than $81.1 million in shares. Although Facebook shares aren't doing too well now -- the stock price closed at $27.57 today -- they were worth even less per share -- between $22.48 and $23.29 -- in October.

Of course, none of these figures come close to Facebook's initial public offering price of $38 a share. The company is approaching the one-year anniversary of its IPO on May 18, 2012.