Facebook co-founder Moskovitz sold stock following lockup
August 27 , 2012
Facebook co-founder Dustin Moskovitz sold 450,000 Class A shares over the past three days, his second such sale since last Friday.
He is the latest insider to sell shares following the end of the lockup, according to a regulatory filing.
Moskovitz, who was the social networking site’s first chief technology officer, sold the shares in three batches of 150,000 shares each starting on Wednesday, raising more than $8.7 million.
A regulatory filing from Tuesday shows a similar sale in three batches last week, raising around $8.8 million.
Earlier this week, Facebook director Peter Thiel sold around $400 million worth of shares in the company.
Moskovitz still owns 6.6 million Facebook Class A shares and 126.2 million Class B shares, according to the filing.
Lock-ups stop company insiders from selling their shares in a newly-floated firm and usually expire 90 days from the initial public offering (IPO).