Sheryl Sandberg's Selling Spree Continues
What'd you do on Friday? Best-selling motivational author Sheryl Sandberg netted $91 million dollars in Facebook stock sales, a fortissimo note after months of steady selling.
Facebook's star COO has been letting go of shares—169,756 every two weeks, to be exact—like clockwork, pulling in around $4 million each time. This isn't out of the ordinary: execs like Sandberg often make a pre-programmed selling plan to avoid allegations of insider trading. But now that the stock price is out of the tubes, Sandberg has gone big, offloading over 2.3 million Facebook shares in one day. Bravo, Sheryl—but this won't do anything for readers of the social network's tea leaves, worried that Sandberg is thinking more about Lean In than her day job, and might be eyeing an exit from the joint. After all, that every-two-weeks program started in November, 2012—right after the book was first announced.
Between the wild publicity her tome's received and stock boons like this, it's safe to say Sandberg can pay someone to lean for her, full-time.
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