National News

Sale of Facebook Shares to be Halted

by Associated Press posted Sep 4 2012 7:29PM
  NEW YORK (AP) - Facebook says CEO Mark Zuckerberg won't sell stock in the company for at least the next 12 months.
     It's also saying that Facebook's rank-and-file employees can start selling stock they own on Oct. 29. That was disclosed in a regulatory filing Tuesday.
     Facebook says it's withholding about 101 million shares from its employee stock units to cover taxes they will incur at a rate of about 45 percent. It will then pay the tax obligations, currently estimated at around $1.9 billion, cash and credit.
     Facebook's stock fell to $17.55 in Tuesday trading, its lowest point ever, and closed down 33 cents at $17.73.
Filed Under :
Topics : Business_Finance
Location : New York
People : Mark Zuckerberg
09/04/2012 7:29PM
Sale of Facebook Shares to be Halted
Please Enter Your Comments Below
Title :
Comment :
Charles County Sheriff's Office Incident Reports
Homecoming Weekend's Here for UMW Alumni
Fall Hill Avenue is OPEN!!
Prince William County Police Department Incident Report
Detour Over for Fredericksburg's Fall Hill Avenue
No Tags Found !