Facebook co-founder Moskovitz sold stock post lockup
Facebook Inc co-founder Dustin Moskovitz sold 450,000 Class A shares over the past three days, his second such sale since last Friday, becoming the latest insider to sell shares following the end of the lockup, according to a regulatory filing late on Friday evening.
Moskovitz, who was Facebook's first chief technology officer, sold the shares in three batches of 150,000 shares each beginning on Wednesday, raising more than $8.7 million.
A regulatory filing from Tuesday shows a similar 450,000 share sale in three batches beginning last Friday through Tuesday, raising a little over $8.83 million.
Earlier this week, Facebook director Peter Thiel sold roughly $400 million worth of shares in the company, as investors look to cash out their stake after the end of the first lockup, which barred early investors and insiders from selling shares following the initial public offering.
Moskovitz, a onetime Harvard roommate of Facebook founder Mark Zuckerberg, had been with the company since its earliest days and left in 2008 to form a social-networking company for business called Asana.
Moskovitz still owns 6.6 million Facebook Class A shares and 126.2 million Class B shares, according to the filing.
More than 1.4 billion additional shares held by early investors and Facebook employees are set to become available for trading by year's end, as additional post-IPO lockup restrictions are lifted.
Facebook shares closed at $19.41 on Friday on the Nasdaq, down 3 cents.