Facebook insiders could sell 773 million shares Wednesday

The largest set of Facebook stock shares available since May, when the company went public, could hit the market on Wednesday as the social network's employees are given the green light to sell off 773 million shares.

Wednesday marks the expiration of another "lockup" period, which means early investors and Facebook employees, including those who joined before 2011, will be able to sell off 773 million common shares, plus 31 million in restricted stock units.

The previous lockup expired at the end of October and that fresh infusion of stock into the open market left the share price down 3.4 percent at $21.12 per share at closing.

Since then the stock has fallen some more, opening at $19.15 this morning.

Read Full Article from CNET

- Posted: 2012-11-12 14:39:29

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