Costolo’s Family Trusts Sell 50% of Twitter Stock This Month
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Twitter Inc. Chief Executive Officer Dick Costolo’s family trusts sold half their shares in the social network this month, accelerating sales that started in July.
The Richard Costolo 2001 Living Trust and Lorin Costolo 2001 Living Trust, named for his wife, sold 283,460 shares in transactions on Nov. 3 and Nov. 17 for $11.6 million, according to regulatory filings. Costolo owns 36,028 shares in the company directly, 509,828 unvested restricted stock units and 283,460 shares in the trusts after the sales.