Facebook Inc. finance chief David Ebersman this week sold another roughly 5% of his stake in the company. Ebersman helped take Facebook public last year.
Wall Street Journal, citing a regulatory filing, said Ebersman raised $26.2 million in the sale, which took place on Tuesday and Wednesday. The Facebook finance chief sold 532,400 shares priced at an average of $50 apiece.
The sale was also part of a pre-arranged trading agreement known as a 10b5-1 plan. Such plans allow executives to direct their brokers to automatically sell stock without the appearance that they were acting on material non-public information, the report said.
Though large, the most recent sale is dwarfed by his $42.6 million sale of Facebook shares about a month ago. It was the largest sale of its kind by a chief financial officer in at least a decade, WSJ's CFO Journal noted at the time.
Ebersman first began selling stock in early February. He has sold roughly 2.4 million shares to date, WSJ said.
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