After IPO, Facebook Insiders Make $775 Million
Facebook Inc. has been trading below its $38 offering price since shortly after its IPO in May. But that hasn’t stopped insiders from selling shares valued at more than $775 million in the past five months.
The volume of selling doesn’t appear unusual for a newly public company — the 37.5 million shares sold represent less than 2 percent of Facebook’s shares outstanding. Compared with other recent Internet IPOs, Facebook executives and directors have been less active sellers than insiders at Zynga Inc., but more active than those at Groupon Inc.