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November 14, 2013 04:35 am GMT

Facebook CFO David Ebersman Cashes in $43 Million in Shares

David-ebersman

Facebook chief financial officer David Ebersman cashed in more than 900,000 shares of Facebook stock Wednesday, a transaction that netted the exec nearly $43 million, according to documents filed with the Securities and Exchange Commission

The sale was pre-arranged as part of Ebersman's automatic trading plan, which means it does not necessarily reflect on the current status of Facebook, according to a company spokesperson. The 900,000-plus shares equated to roughly 8.5% of the CFO's total equity in the company.

See also: 10 Hot Social Networks to Watch

Ebersman, who joined Facebook in 2009 after spending years as an exec at biotech giant Genentech, helped lead Facebook through its 2012 IPO. Investors took some time warming up to the social network, but seem to have changed their tune recently. Shares of Facebook ($FB) have more than doubled in the last year, closing Wednesday at $48.71 Read more...

More about Facebook, Stock, Ipo, Sheryl Sanberg, and Social Media

Original Link: http://feeds.mashable.com/~r/Mashable/~3/xD680LRS3no/

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