San Francisco: Meta founder and CEO Mark Zuckerberg sold about $190 million worth of company stock last month, media reported.
Zuckerberg sold Meta shares every day in November, for a total of 560,180 shares last month, Market Watch reported.
According to a Form 4 filing with the US Securities and Exchange Commission (SEC), he ordered the sale of another 28,009 shares on November 29.
The shares sold would be worth $192.9 million, with the stock closing at $327.15, the report noted.
The majority of the shares sold were acquired as part of a “founder stock purchase” in 2004.
According to the report, about 150,000 of the shares sold during the sale days were acquired at $0 through the exercise of options acquired in 2013.
Meta registered $34 billion in revenue in its third quarter, up 23 percent from the same quarter last year.
Total costs and expenses were $20.40 billion, down 7 percent (year over year) in the September quarter. Net income rose 164 percent to $11.58 billion in the quarter from a year earlier.
However, the company is still burning cash with its Reality Labs division, and Meta expects its operating losses there to grow “significantly” year over year.
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