Prolific Facebook Employees Dump Their Stock

Social network giant Facebook, who recently floated somewhat nervously on the stock market, has seen a number of high profile employees dump their holdings, according to this Forbes article.

Chief accounting officer David Spillane quickly got rid of 60% of his holdings at the first given opportunity, scooping up $5.38 million. He wasn’t alone, as Sheryl Sandberg (chief operating officer) also sold $7.4 million of her stock while Theodore Ullyot sold $3 million of stock.

Expect more employee stock dump, as more stock selling restrictions are to be lifted in the coming weeks.