Zuckerberg in effect made more than $28 million by exercising options to buy stock at $0
Facebook Inc. Chief Executive Mark Zuckerberg disclosed that he sold nearly $50 million worth of social media company’s stock this past week, as part of a predetermined trading plan.
Zuckerberg also bought 101,000 shares this week by exercising stock options, which in effect netted him about $28.1 million as the shares acquired cost him $0.00.
The share sales came during a pullback prices, as growing hopes of a COVID-19 vaccine triggered a rotation out of high-flying technology stocks. Facebook’s stock FB, +0.68% rose 0.7% to close at $276.95 on Friday, but has lost 5.6% on the week. The technology-friendly Nasdaq Composite Index COMP, +1.02% has slipped 0.6% this week while the S&P 500 index SPX, +1.36% has gained 2.2%.
In a Form 4 filing with the Securities and Exchange Commission late Thursday, Zuckerberg disclosed he sold 62,250 shares on Nov. 11, in a series of transactions at prices ranging from $273.69 to $277.95, as part of a Rule 10b5-1 trading plan.
The total value of the shares sold, at a weighted average price of about $275.87, was $17.17 million, according to a MarketWatch calculation of the data.
Zuckerberg also acquired 36,000 shares on Wednesday, at a cost of $0.00, through the conversion of a derivative security.
On Nov. 10, Zuckerberg disclosed that he sold a total of 49,750 shares at a weighted average price of $269.89, for a value of $13.43 million.
He also acquired 29,000 shares on Tuesday for $0.00, by exercising options.
In separate Form 4s, Zuckerberg disclosed the sale on Nov. 9 of a total of 62,250 shares at a weighted average price of $287.53, to raise $17.90 million.
He also acquired another 36,000 shares, also at no cost, by converting derivative securities.
In total, he acquired 101,000 shares at $0.00, and sold 174,250 shares at a weighted average price of $278.33 for a value of $48.50 million.
Based on those calculated prices, he would have netted $28.11 million on the 101,000 shares he acquired, and sold an extra 73,250 shares valued at a net $20.39 million.