Photo: Robert Scoble
The latest iteration of Facebook’s S-1 filing is out.The hot details: the company is selling 337.4 million shares at a price range of $28-$35.
And part of the share sale is insiders selling, and that includes CEO Mark Zuckerberg.
According to CNBC, Zuckerberg will be selling 30.2 million shares, which means that at the top of the range we’re looking at an instant sale of about $1 billion.
The specific line in the filing is:
In connection with our initial public offering, Mr. Zuckerberg will exercise this stock option with respect to 60,000,000 shares of Class B common stock and will then offer 30,200,000 of those shares as Class A common stock in our initial public offering.
So Zuckerberg will still have a ton of Facebook stock, and he will control 57.3% of voting share post-IPO.
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