Mark Zuckerberg Commits To Not Selling Stock For A Year

Mark Zuckerberg looks wary at Sun Valley

Some news out of Facebook tonight.

Mark Zuckerberg has committed to not selling any shares for the next year in a filing with the SEC.

Facebook board members Marc Andreessen and Donald Graham will be selling some Facebook shares, but only to cover a tax bill.

Facebook’s stock has been battered since the IPO, so any news about selling, buying, or standing still is a big deal.

In this case, it looks like good news because big insiders are going to sit on the stock.

One other piece of news in the filing: Facebook is accelerating the lock-up period. Employees will be able to sell shares starting October 29 as opposed to November 14.

Facebook’s stock is up 2% in the after market on the news.

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