Wellllll, isn't that special..
Posted on 03/19/2018 3:38:22 PM PDT by TigerClaws
Facebook Inc. Chief Executive Mark Zuckerberg saw his net worth decline by about $5 billion Monday, but it could have been worse.
Ahead of Facebook’s worst one-day decline since 2012, prompted by news that data affecting 51.3 million members was improperly shared with a political consulting firm, Zuckerberg had been busy selling stock. So far this year, he has sold nearly five million shares.
Disposing of those Facebook FB, -1.02% shares before Monday ended up saving about $40 million, according to Securities and Exchange Commission filings and some arithmetic by MarketWatch. At Monday’s close, the 4.9 million shares Zuckerberg has sold this year under a predetermined plan would be worth $855 million. Zuckerberg made about $900 million selling those shares, according to calculations using average weighted prices reported to the Securities and Exchange Commission.
Don’t miss: Facebook election issues push investors toward Twitter and Snap
Facebook spokeswoman Vanessa Chan said in an email that the stock sales are intended to fund the Chan-Zuckerberg Initiative, the philanthropic investment organization the Facebook founder set up with his wife in 2015. In an SEC filing, Zuckerberg said that he plans to sell at least $6 billion in Facebook stock to fund the organization’s efforts.
Last year, Facebook abandoned its plan to create a new class of nonvoting shares that was concocted to allow Zuckerberg to retain voting control of the company. Zuckerberg said at the time that the stock’s gains over the past couple years would allow him to retain control of the enterprise and still sell enough stock to fund his philanthropy without the new stock structure.
(Excerpt) Read more at marketwatch.com ...
Martha Stewart, call your office.
L
He needs the Martha Stewart treatment, but the lib ruling elites live in Animal Farm.
What would the outcome have been had she not lied? Just flat out admitted to dumping stock, because her broker told her/she knew stock was going to dive?
My argument is contained in that link.
If you cannot figure it out, may GOD have mercy on your soul.
I think Facebook..."can" be of value...to keep in touch with friends and family.
But...the negatives outweigh the positives...IMO.
I've never done FB..and never will.
And considering they squash Conservative thought..and such...I don't know why any Conservative uses it.
“Buy or sell it with knowledge of insider information.”
Granted that the CEO ALWAYS has inside information, how then is he to sell his stock?
What about the engineer that designs the new widget? Is he forbidden to trade the company stock?
But it sounds like that was not what this was.
It sounds like he had a planned schedule that he has been selling stock on for some time.
If that is the case all is well. If he had just dumped the stock unexpectedly there would be trouble.
It is like destroying records.
If your company has a plan to destroy record that are over seven years old and you stick to it even if they suspect you shredded what would have been incriminating information the day before they slapped you with a "retain all records order" they can not touch you because you were following a planed schedule.
If you don't have a planned schedule or have not stuck too in in the past then they can nail you to the wall for attempting to subvert justice if you destroy a bunch of record the day before you got slapped with the order.
“Didn’t Martha Stewart go to jail for that? Or lying about it?”
She sold ALL of her stock in a company using inside information the day before the stock fell 16%.
Not a all the same.
Please don’t do that no more. Thumbnails of the b***h are bad enough!
Wellllll, isn't that special..
So selling a billion before it tanks is okay?
Selling all is not okay?
How about we form a Grand Jury and find out what they think?
Time to trim Zuck the Cuck down to size!
Very carefully.
You can not sell or buy before a major event that will change your stock price dramatically.
You can only sell after the news that the new widget causes children to develop purple spots breaks, not before.
You only can buy after the news breaks that the widget cures the heartbreak of psoriasis, not before.
Unless you have a plan where you are selling or buying a thousand shares every week for five years, then you are OK. Well as long as you are in week seventy two not week one.
Sweitzer’s book talks about Bammy’s “Smash and Grab”.
Told U of Phoenix they would end giving our military guys tuition reimbursement if the went there. Stocks dropped. Company was sold to his best bud. Bammy then went 180 on the the policy. Stock went up, friend made a bundle.
Wonder how much the bud donated to The Obama Foundation.
ROTFLMAOAY!
Zuck pretty much wants nothing to do w his fellow Jews or Israel. I have a very low opinion of him and facebook.
confirmation will be the herd of flying pigs overhead. LOL
I wonder if Zuck’s philanthropy will include giving every welfare case a free Thanksgiving Turkey and a pair of Air-Jordans for Christmas in the years running up to his candidacy for political office?
Insider trading = “Lock em up Danno”.
Yes it’s always the coverup.
Why?
They filled out the same forms as Zuckerberg did. Filed them months ahead of the sale, when the financials were looking good.
In the following case, that is why they were eventually cleared. That and the money was used for exactly what the company lawyer and CEO said it was. Still it ate up a lot of time, money and resources that didn’t help the company at a time when a dropping commodities market put it in pinch.
If you mean the ethanol company wasn’t politically connected, or “To big to fail” then you are right. They also tried to follow all laws, and be open about what they did.
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