{"id":20958,"date":"2012-08-30T08:24:35","date_gmt":"2012-08-30T06:24:35","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=20958"},"modified":"2012-08-30T15:31:09","modified_gmt":"2012-08-30T13:31:09","slug":"facebook-exec-sheds-more-shares","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/20958\/facebook-exec-sheds-more-shares\/","title":{"rendered":"Facebook exec sheds more shares"},"content":{"rendered":"

Facebook<\/a> co-founder Dustin Moskovitz<\/a> is selling yet more shares in the one-time consumer-Internet darling, keeping up a steady but small flow of daily sales, according to a filing.<\/p>\n

This week, Moskovitz has sold a total of 450,000 Class A shares at prices ranging from $19.19 to $19.22 a share, reducing the Facebook stake of his Dustin A. Moskovitz Trust to 6.15 million A shares, a filing with the Securities and Exchange Commission showed.<\/p>\n

His Dustin A. Moskovitz Trust also owns 106.8 million B shares, which can be converted to Class A shares on a one-to-one basis at any time. Class B shares carry more voting power.<\/p>\n

Moskovitz has been selling shares at the rate of 150,000 a day since August 19, the first day since Facebook’s initial public offering that certain insiders were allowed to sell shares.<\/p>\n

Facebook’s IPO has been one of the most troubled in recent memory, with the shares debuting in May at $38 but quickly falling. On Wednesday, shares in the social network were trading around $19, beset by concerns over issues ranging from its mobile strategy to its slowing growth.<\/p>\n

Moskovitz, a roommate of Facebook chief Mark Zuckerberg<\/a>‘s at Harvard University, left the company in late 2009 to work on his own start-up, workplace software-service Asana<\/a>.<\/p>\n

Several Facebook insiders, including early backer Peter Thiel<\/a>, have been selling shares at a rapid clip. Thiel, who sits on Facebook’s board, sold 20 million shares earlier this month.<\/p>\n

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Facebook co-founder Dustin Moskovitz is selling yet more shares in the one-time consumer-Internet darling, keeping up a steady but small flow of daily sales, according to a filing.<\/p>\n","protected":false},"author":7,"featured_media":12371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[25,3970,45,173],"class_list":["post-20958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-active","tag-dustin-moskovitz","tag-facebook","tag-shares"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/20958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=20958"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/20958\/revisions"}],"predecessor-version":[{"id":21015,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/20958\/revisions\/21015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/12371"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=20958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=20958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=20958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}