While Meta's stock rose to nearly a two-year high in November, CEO Mark Zuckerberg was selling shares. According to Form 4 filings with the Securities and Exchange Commission, Zuckerberg sold 560,180 Meta shares on a daily basis in November, for a total of 560,180 shares sold by November 29. In addition, he intended to sell an additional 28,009 shares on Thursday, according to a Form 144 filing.
Based on the weighted average prices of these share sales and the closing price of $327.15 on Thursday, the total value of the shares sold is $192.9 million (about Rs 1,600 crore). The shares sold, which were indirectly owned by Zuckerberg, were sold for various funds. These sales were made in accordance with the Rule 10b5-1 trading plan, which was implemented on July 31.
The shares of the social media powerhouse rose 8.6% in November, marking the company's third straight month of gains. It peaked at $341.49 on November 22, the highest since December 30, 2021, before falling back.
The majority of Zuckerberg's shares were purchased in 2004 as part of a "founder stock purchase." Almost 150,000 of the sold shares were acquired at $0 on the days they were sold as a result of the exercise of options purchased in 2013.
According to recent filings, Zuckerberg still owns more than 365 million shares. According to the Bloomberg Billionaires Index, he was the ninth wealthiest person in the world as of November 30.
Although selling over $190 million in shares may appear significant for a single month, considering the daily average trading volume of 19.18 million shares over the past 30 days, more than $6.2 billion in Meta shares change hands on an average day.
