Zuckerberg snaps up 100 million shares Facebook

Feb 19, 2013, 10:37am PST

Mark Zuckerberg snaps up another 100 million Facebook shares

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Facebook CEO Mark Zuckerberg picked up 100 million shares of his company's stock.

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Shana Lynch

Managing Editor- Silicon Valley Business Journal

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Mark Zuckerberg is bullish on Facebook. In the past 6 months, he’s added 100 million shares to his portfolio, and says he has no plans to sell that stock until at least September 2013.
In a recent SEC filing, Facebook said Zuckerberg now owns 632 million shares, or 29.3 percent of the company. Based on Friday’s closing price, Zuckerberg’s Facebook holdings alone are worth $17.9 billion.
Much of those 100 million new shares came in the form of executive compensation and stock options. They were issued as “class B” shares, which represent 10 times the voting power of “class A” shares.
Zuckerberg owns a controlling interest in the company and doesn’t necessarily need new shares to keep majority voting power. The move instead is designed to soothe investors unhappy about the roller coaster the company’s shares have taken them on over the past 11 months.
Facebook (NASDAQ:FB) peaked at $45 per share in May 2012 and bottomed out at $17.55 in September. That month, Zuckerberg pledged to not sell his stock for at least a year.

Shana Lynch is Managing Editor at the Business Journal. Her phone number is 408.299.1831.

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