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Facebook’s Sandberg Sells 946,588 Shares for $26 Million

Dec. 9 (Bloomberg) -- Facebook Inc. Chief Operating Officer Sheryl Sandberg sold 946,588 shares, netting about $26.2 million.

The shares were sold in multiple transactions at prices ranging from $27.30 to $27.90 apiece, Menlo Park, California-based Facebook reported in a filing with the U.S. Securities and Exchange Commission. Facebook, operator of the world’s largest social network, closed at $27.49 on Dec. 7 and has lost 28 percent since selling shares for $38 each in an initial public offering in May.

With the sale, Sandberg reduced her stake to 18.7 million shares, according to the filing.

To contact the reporter on this story: Lisa Rapaport in New York at lrapaport1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net

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