Mark Zuckerberg to hold onto shares for a year
September 6 , 2012
Mark Zuckerberg has stated he will not sell any of his shares in Facebook for at least one year in a bid to boost investor sentiment.
His pledge came as Facebook shares hit an all-time low of $17.55 on Tuesday.
Zuckerberg owns some 444 million shares of Facebook plus an option to issue another 60 million.
Facebook shares rose nearly 2 percent in after-hours trading following Zuckerberg’s announcement.
Fears have been mounting among investors that, as various lock-up periods end, the stock’s value may depreciate further.
Last month, Peter Thiel, a venture capitalist and one of the social networking site’s earliest backers sold 20.1 million shares after the first lock-up period ended.
Facebook shares have nearly halved in value since the company went public in May this year.