back to article Zuckerberg WON'T flog his Facebook shares for a year

Facebook supremo Mark Zuckerberg has confirmed he will not sell any of his shares in his social networking website for one year. His declaration, in a regulatory filing on Tuesday, came as his company's stock bombed once again on Wall Street: it scored a new all-time low price of $17.55 before closing at $17.73 on Nasdaq. Shares …

COMMENTS

This topic is closed for new posts.
Silver badge

Those shares are going to be worthless by the time he can sell them.

5
1
Anonymous Coward

To him...

.. yes, to us ... an invaluable reminder to always ignore the bullshit.

2
0
Anonymous Coward

I think the problem is they floated too late, there's not much more they can add to the site now IMHO.

All of their developments will need to be in alternative products like a smartphone and that's a tricky market.

0
1
Silver badge

Re: I think the problem is they floated too late

"I think the problem is they floated too late..."

.....and now the captain is going to go down with his ship.

Very inspirational.

3
0
Anonymous Coward

"I think the problem is they floated too late"

More like overpriced.

1
0
Anonymous Coward

"I think the problem is they floated too late"

Or that they floated at all.

1
0
Anonymous Coward

Zuckerberg has 500 million shares. Even if the company's stock dropped to something ridiculously low like 10c a share, Zuckerberg would still be rich.

1
0
Anonymous Coward

Facebook

Shouldn't that be "troubled social networking company, Facebook"?

Perhaps the next evolution is a group of "social" web sites linked together to form a large network which anyone can join. Individuals can then run their own or join a smaller group to run one.

0
0
Anonymous Coward

Re: Facebook

Isn't that called the pub?

3
0

Re: Facebook

Well, that Diaspora thing tried exactly that a couple of years ago.

...

No, me neither.

4
0

Reminds me of another floater...

as they say, you can't polish a turd but you can roll it in glitter.

2
0

Re: Reminds me of another floater...

Mythbusters disproved that theory

1
0
Silver badge

Intention != promise

The statement that he has no *intention* to sell the shares for a year is not the same as confirming that he will not. Today he has no intention, but next Thursday he may intend to sell them the following morning.

3
0
Anonymous Coward

$18?:

haha - makes Yahoo look pretty good now, doesn't it? FB was higher than Yahoo ever has been, and is now about the same. I'm willing to bet that in a year FB shares will be lower than Yahoo's.

It goes to show that sometimes the "old" and staid is a better bet than the meteoric new-kid on the block.

1
0

Re: $18?:

Individual share values aren't comparable that way.

AOL shares are worth more than Microsoft shares, for instance, though the company is worth dramatically less. The number of shares in circulation multiplied by the share value gives you market capitalisation which is what you have to look at.

As it stands, Facebook is worth about twice Yahoo overall, but you're right that that could change as Yahoo is more profitable (but assumed to be on a downward trend while Facebook is assumed to be on the up).

0
0
Silver badge
Trollface

Timing

Accordingly, we expect that a total of approximately 234 million shares held by employees who are employed by Facebook through October 15, 2012, will be eligible for sale in the public market as of market open on October 29, 2012.

Hmm. October 29th, eh? Surely there won't be a massive selloff of shares on such a lovely day.

2
0
Stop

OH OH.

If you breathed a sigh of relief after Mark Zuckerberg's pledge not to sell FB stock until October 2013, you might want to get ready for some more atrial fibrillation. Let me direct your attention to FaceBook's Form 8-K, reported August 30, 2012.

******"As of August 30, 2012, we have approximately 692 million shares of common stock eligible for sale in the public market, which consists of approximately 421 million shares of common stock sold in our IPO and approximately 271 million shares of common stock released from market stand-off restrictions on August 16, 2012. The remaining outstanding shares of our common stock, as well as the shares underlying outstanding RSUs and shares subject to employee stock options, will be eligible for sale in the public market in the near future as set forth below:

Date Available for Sale into Public Market Number of Shares of Common Stock

October 29, 2012 approximately 124 million shares underlying net-settled Pre-2011 RSUs held by then-current employees as of October 15, 2012 and approximately 55 million outstanding shares and approximately 55 million shares subject to stock options held by then-current employees as of October 15, 2012 other than Mr. Zuckerberg

November 14, 2012 approximately 749 million outstanding shares and approximately 28 million shares underlying Pre-2011 RSUs not held by then-current employees as of October 15, 2012

December 14, 2012 approximately 156 million shares held by the selling stockholders in our IPO other than Mr. Zuckerberg

May 18, 2013 approximately 47 million shares held by Mail.ru Group Limited and DST Global Limited and their respective affiliates

The table above excludes the 444 million outstanding shares and 60 million shares issuable upon the exercise of an option that are held by Mr. Zuckerberg because he has informed us that he has no intention to conduct any sale transactions in our securities for at least 12 months. In addition, as of August 30, 2012, options to purchase 45,693,252 shares held by former employees were outstanding and fully vested and the shares underlying such options will be eligible for sale on November 14, 2012. We expect an additional approximately 4 million shares to be delivered upon the net settlement of RSUs following the date of the initial settlement of RSUs described above and December 31, 2012 will be eligible for sale in the public market immediately following settlement."******

"As of August 30, 2012, we have approximately 692 million shares of common stock eligible for sale in the public market," With a float of only 692 million shares today, FB sunk from $38 to $18 a share.

If you add up the numbers of shares that will soon be eligible to be sold but are not eligible now, you get one billion one hundred fifty-nine million shares (1,159,000,000). Add to that the 692 million shares tradable today and in 9 months FB will have a float of 1,851,000,000 shares, give or take a couple hundred million.

No matter how you look at it, It's not a pretty picture Dorian Grey)

http://www.sec.gov/Archives/edgar/data/1326801/000119312512379221/d405186d8k.htm

1
0
This topic is closed for new posts.

Forums