Facebook COO Sheryl Sandberg joined the company in April 2008.
She built it into a business generating $5 billion per year, worth $55 billion.
And now she's very, very rich.
On Friday, at 9:30 PM, 34 million restricted stock units vested in Sandberg's name.
At $23.21 per share, the paycheck was worth $790 million.
Facebook withheld 15 million of these shares for tax purposes.
It converted the rest, about 18 million shares, into common stock and granted it to Sandberg – a nice $417 million addition to her stock portfolio.
Some others who made bank:
- David Ebersman, CFO: 4.2 million shares worth $97 million at conversion. Ebersman retains 2.2 million shares of Class A common stock that can now be sold.
- Theodore Ullyot, General Counsel: 2.5 million shares worth $58 million. Ullyot retains 1.4 million shares that can now be sold.
- David Fischer, VP of Marketing: 1.1 million shares worth $26 million. Fischer retains 568,282 shares that can now be sold.
- Micheal Schroepfer, VP Engineering, ~3 million shares worth $70 million. Schroepfer retains 1.5 million shares that can now be sold.
- David Spillane, Chief Accounting Officer: 0.7 million shares worth $16 million. Spillane retains 416,479 shares that can now be sold.
This is all part of Facebook's big lock-up expiration, about which you can read more here.
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