FB says Zuckerberg, directors won't sell shares

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FB says Zuckerberg, directors won't sell shares
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) - Facebook Chief Executive Mark Zuckerberg and two company directors, Marc Andreessen and Donald Graham, do not plan to sell any company shares following the expiration of a lockup period, the social networking giant said in a regulatory filing late Tuesday. Zuckerberg, who is also the company's co-founder, "has no intention to conduct any sale transaction in our securities for at least 12 months," Facebook said. Shares of Facebook rose nearly 2% in after-hours trading, after hitting a new low in regular trading. Facebook shares have been weighed down by the coming lockup expirations for more than 1.3 billion shares before the end of the year. A big wave of roughly 1.22 billion is expected to hit Nov. 14.