When the lockup expired on Facebook’s (NASDAQ:FB) shares last week, the company’s chief operating officer, Sheryl Sandberg, dumped $7.4 million worth of stock. This week, she continued her selling, dumping 167,000 shares, or another $3.75 million worth.
Still, these transactions still represent a small portion of Sandberg’s holdings — she still has about 19 million shares that are vested, according to Reuters.
Investors should be less worried about her stock walking out the door, and more about Sandberg herself.
Sandberg came on board Facebook in March 2008 and has been crucial in scaling the company’s growth. However, there are rumors that she may leave the company to join the Obama administration. She once was the Chief of Staff of the U.S. Treasury Department and was an economist at the World Bank.
Considering the money she’s sitting on, she should have little problem adjusting to a much lower government salary.
Tom Taulli runs the InvestorPlace blog IPOPlaybook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.