Mark Zuckerberg Commits to Not Selling Stock For a Year

Some news out of Facebook tonight.

Mark Zuckerberg has committed to not selling any shares for the next year in a filing with the SEC.

Facebook board members Marc Andreessen and Donald Graham will be selling some Facebook shares, but only to cover a tax bill.

Facebook’s stock has been battered since the IPO, so any news about selling, buying, or standing still is a big deal.

In this case, it looks like good news because big insiders are going to sit on the stock.

One other piece of news in the filing: Facebook is accelerating the lock-up period. Employees will be able to sell shares starting October 29 as opposed to November 14.

Facebook’s stock is up 2% in the after market on the news.

Via: Business Insider

More: digitaltrends.comBBCAllThingsDCNETVentureBeat and Forbes

Prateek Panda

Prateek is the Founder of TheTechPanda. He's passionate about technology startups and entrepreneurship and enjoys speaking to new founders every day. Prateek has also been consistently regarded as one of the top marketing experts in the region.

Recent Posts

DeepSource’s new autonomous AI agents promise to scan, fix code security vulnerabilities

As artificial intelligence (AI) continues to progress exponentially, the future of industries like software engineering…

15 hours ago

Retail’s Return Rate Crisis: The Urgent Need for Proactive Solutions

The average return rate in eCommerce is estimated at 17.6% for 2024. Nearly 1 in 5 products…

1 day ago

AI Launches: Cybersecurity, AI Agents, product specs, business operating system, automobile, consumer & MSME lending, cloud, data streaming

The Tech Panda takes a look at recent launches in the superfast field of Artificial…

2 days ago

As India’s tech sector on track to surpass $300 billion, CEO of Ness shares insights into AI’s important role 

The tech sector in India has been going from strength to strength in recent years.…

2 days ago

Unknown & uncontrolled machine identities within organizations leading to emergence of new identity security challenges

Experts are saying that organizations are inadvertently creating a new identity-centric attack surface through growing…

2 days ago

Outbound & inbound: India attracts businesses from US & Singapore while expanding to UAE, Europe & Philippines

The Tech Panda takes a look at how India has been attracting foreign businesses from…

3 days ago