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Facebook stock sale

1:40 PM, Sep 10, 2012   |    comments
(WPTV)
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NEW YORK (AP) - Facebook co-founder Dustin Moskovitz has sold 5.7 million shares of the company's stock, a small fraction of his total holdings.

He sold the shares on Wednesday, Thursday and Friday for proceeds of more than $108 million.

Moskovitz was Mark Zuckerberg's Harvard roommate when they founded Facebook in 2004. Moskovitz, 28, left Facebook in 2008 and started Asana, a company that makes project management software.

He has been disclosing stock sales every few days since Aug. 17. He did not sell any stock in Facebook's IPO. Facebook is headquartered in Menlo Park, Calif.

Moskovitz still owns about 126 million shares of Facebook stock. Facebook has been trading at about half of its $38 initial public offering price. The stock closed at $18.98 on Friday.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Associated Press

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