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posted: 12/9/2012 4:08 PM

COO Sandberg sells Facebook shares for $26.2 million

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  • Sheryl Sandberg is chief operating officer of the social network service Facebook. She joined Facebook from Google in 2008, as the first woman on Facebook's board of directors.

      Sheryl Sandberg is chief operating officer of the social network service Facebook. She joined Facebook from Google in 2008, as the first woman on Facebook's board of directors.
    ASSOCIATED PRESS

 
Bloomberg

NEW YORK -- Facebook Inc. Chief Operating Officer Sheryl Sandberg sold 946,588 shares, netting about $26.2 million.

The shares were sold in multiple transactions at prices ranging from $27.30 to $27.90 apiece, Menlo Park, California- based Facebook reported in a filing with the U.S. Securities and Exchange Commission. Facebook, operator of the world's largest social network, closed at $27.49 on Dec. 7 and has lost 28 percent since selling shares for $38 each in an initial public offering in May.

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With the sale, Sandberg reduced her stake to 18.7 million shares, according to the filing.

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