Fedex Cuts 1Q EPS Forecast to $1.37-$1.43 From Est. $1.56
By Ari Levy - 2012-09-04T21:20:30Z
Facebook Inc. (FB) Chief Executive Officer Mark Zuckerberg won’t sell his stock holdings in the company for at least a year, according to a regulatory filing.
Facebook’s shares have been marking record lows since the first lockup on share sales by insiders expired in August. Zuckerberg, who operates the world’s largest social-networking service, is facing investor concerns about how the website can generate more revenue from its growing user base.
Directors Marc Andreessen and Donald Graham also said they won’t be selling shares in Facebook, other than to settle tax obligations, the filing with the U.S. Securities and Exchange Commission said.
Shares in Facebook rose as much as 2.9 percent in after- hours trading, up from $17.73 at the close in New York. Today’s closing price was the lowest since the Menlo Park, California- based company went public at $38 a share on May 17.
To contact the reporter on this story: Ari Levy in San Francisco at alevy5@bloomberg.net
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net