Deals
Facebook CEO Zuckerberg Won’t Sell Stock for at Least a Year
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Facebook Inc. Chief Executive Officer Mark Zuckerberg, faced with a plummeting stock price and deluge of shares hitting the market, said he won’t start selling his holdings in the company for at least a year.
Zuckerberg has yet to adopt a share sale plan, the Menlo Park, California-based company said yesterday in a filing with the U.S. Securities and Exchange Commission. Typically, insiders use plans to pare their stakes over time to avoid flooding the market. Zuckerberg owns 444 million shares of Class B stock and 60 million shares issuable upon the exercise of an option. Facebook’s stock gained the most in two weeks.