Facebook Inc. Chief Executive Mark Zuckerberg raised more than $35 million so far this week, as he acquired Class A shares for nothing, through a share conversion, then sold more shares than he acquired at a combined price above $261.
In Form 4 filings with the Securities and Exchange Commission, Facebook disclosed that Zuckerberg acquired a total of 101,250 Class A shares FB,
He then sold a total of 134,250 Class A shares at a weighted average price of $261.0639, according to a MarketWatch calculation of the data, to raise $35,047,828.82 . He sold 44,750 shares at $261.759 on March 1, 44,570 shares at $263.7991 on March 2 and 44,750 shares at $257.6336.
For reference, the stock closed March 1 at $264.91, at $259.00 on March 2 and at $255.41 on March 3. It declined 0.9% over those three days.
The stock rose 1.2% in morning trading Thursday. It has lost 7.6% over the past three months, while the Global X Social Media exchange-traded fund SOCL,
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The trades made this week were part of predetermined trading plans. The trades were made in the name of either the Mark Zuckerberg Trust, the Chan Zuckerberg Initiative Foundation or CZI Holdings LLC.
Zuckerberg still has a lot more shares of Facebook to trade. He was the beneficial owner of 398,208,005 shares, or 14.2% of the shares outstanding as of Dec. 31 according to an SEC filing, which at the time were valued at $108.77 billion.
After making a number of similar trades in January and February, the latest filings show that after the March trades, he owned roughly 360 million shares.
