Facebook COO Sheryl Sandberg sold $4.9 million in Facebook shares last week at prices between $27.49 and $28.28, according to a report she filed with the Securities and Exchange Commission on Friday.
She made the sales under a 10b5-1 trading plan, which provides a safe harbor for company executives with insider knowledge to make regular sales.
Under the plan, Sandberg has been steadily divesting small amounts of her Facebook shares since lockups expired. She still owns shares worth about $485 million, according to the filing, so this sale represented about 1 percent of her holdings, not counting unvested stock awards.
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