Koum Leads Facebook Insiders Who Sold $472 Million in Last Monthby and
WhatsApp co-founder liquidates shares worth $286.5 million
Early investor Marc Andreessen sells stock worth $160 million
Jan Koum, whose WhatsApp Inc. was bought last year by Facebook Inc., made his first sale of shares in the operator of the world’s biggest social network, leading a group of insiders that’s sold a combined $472 million since Oct. 18.
Koum, who co-founded WhatsApp in 2009, disposed $286.5 million of Facebook, according to data compiled by InsiderInsights. Early Facebook investor Marc Andreessen was the second-biggest seller, unloading $160 million. Other executives, including Chief Product Officer Chris Cox and Chief Technology Officer Michael Schroepfer, sold a combined $25.8 million since Oct. 18, according to filings.
Koum’s shares were sold to pay taxes on vesting stock he received in the WhatsApp sale, according to a filing. Andreessen’s were sold in accordance with a 10b5-1 trading plan, which are typically adopted by executives to sell stock on a regular basis, filings show.
Facebook said earlier this month that third-quarter sales were $4.5 billion, beating analysts’ estimates. The company’s shares closed at a record high of $109.01 on November 11 in New York.
Roberta Thomson, a spokeswoman for Menlo Park, California-based Facebook, declined to comment on the sales.