Facebook shares sold by three senior execs last week

Three senior Facebook executives have sold shares in the social media giant during the past week.

IBN Live reports that chief operating officer Sheryl Sandberg joined general counsel Theodore Ullyot and chief accounting officer David Spillane in selling millions of dollars’ worth of shares in the social media giant in just one week.

According to the Irish Independent, during the past week Spillane sold 256,000 out of the 863,000 he originally held in the company.

Meanwhile Sandberg sold 176,000 Facebook shares, worth $US3.75 million, after selling $US7.4 million worth of shares in the company a week earlier, retaining around 19 million shares in the social media giant.

Facebook recently posted a smaller than expected $US59 million third quarter loss.