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Tuesday, September 4, 2012

FB says Zuckerberg, directors won't sell shares

Facebook (FB) Chief Executive Mark Zuckerberg and two company directors, Marc Andreessen and Donald Graham, do not plan to sell any company shares following the expiration of a lockup period, the social networking giant said in a regulatory filing late Tuesday. 

Zuckerberg, who is also the company's co-founder, "has no intention to conduct any sale transaction in our securities for at least 12 months," Facebook said. Shares of Facebook rose nearly 2% in after-hours trading, after hitting a new low in regular trading. Facebook shares have been weighed down by the coming lockup expirations for more than 1.3 billion shares before the end of the year. A big wave of roughly 1.22 billion is expected to hit Nov. 14.

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