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This Facebook Insider Keeps Cashing Out

Evan Niu
August 30, 2012

Harvard roommates are the best.

Bill Gates handed Microsoft’s (Nasdaq: MSFT  ) CEO keys to his Harvard roomie Steve Ballmer in 2001, much to the chagrin of Microsoft investors for the subsequent decade. There’s another pair of ex-Harvard roomies that are now also riding high: Facebook (Nasdaq: FB  ) founders Dustin Moskovitz and Mark Zuckerberg. Interestingly, Ballmer is the only one of the four that graduated, while the other three dropped out, yet he’s easily the least respected of the bunch.

Not Thiel again
Surely by now, you’ve heard that famed Silicon Valley investor Peter Thiel has cashed out the vast majority of his early investment in the social network, while opting to hang on to his stake in LinkedIn (Nasdaq: LNKD  ) in an implicit vote of confidence that the professional flavor has a rosier future. Ever since Facebook’s IPO lockup expired, Moskovitz has also taken the opportunity to steadily cash out his holdings.

Moskovitz was Facebook’s third employee, and its first Chief Technology Officer. He left the company back in 2008 in order to found another company, Asana, which builds a web application for enterprises that focuses on collaboration and project management.

A daily payday
As of the IPO, Moskovitz was holding 133.7 million class B shares, which would have been valued at nearly $5.1 billion at the offer price of $38. Super-voting class B shares convert one-for-one to publicly traded class A shares, and Moskovitz converted 7.5 million shares after the expiration on August 17. He has since been steadily cashing out some of these shares in increments of 150,000 shares.

Date Acquired/Disposed Quantity Average price Shares remaining Dollar value
8/17 Acquired 7,500,000 N/A 7,500,000 N/A
8/17 Disposed 150,000 $20 7,350,000 $3 million
8/20 Disposed 150,000 $19.49 7,200,000 $2.9 million
8/21 Disposed 150,000 $19.38 7,050,000 $2.9 million
8/22 Disposed 150,000 $19.31 6,900,000 $2.9 million
8/23 Disposed 150,000 $19.51 6,750,000 $2.9 million
8/24 Disposed 150,000 $19.43 6,600,000 $2.9 million
8/27 Disposed 150,000 $19.22 6,450,000 $2.9 million
8/28 Disposed 150,000