Image via Flickr/ TechCrunch50-2008

On August 7th, Facebook COO Sheryl Sandberg sold 2.4 million shares of Facebook stock at roughly $38 per share, valuing the shares at $91 million.

Though Facebook shares have been low since it went public in May last year ($17.55 in September), the company has seen a 40 percent increase since reporting its second quarter earnings, which showed revenue growth in advertising.

Other Facebook employees also also sold chunks of stock at around $34-$38 per share, including  general counsel Colin Stretch (20,800 shares for about $760,000), CFO David Ebersman (223,400 shares for about $8.4 million), Chief Technology Officer Mike Schroepfer (315,000 shares for about $10.6 million) and Chief Accounting Officer Athwal Jas (25,000 shares for about $887,000.

Even with selling 2.4 million shares, Sandberg, whose sales of stock were pre-arranged in 2012, according to security filings, still has 14 million shares, according to Bloomberg.

Samantha Cortez

Samantha primarily writes for the business section at Wall Street Insanity. She has previously written forBusiness Insider, 20/20 magazine, Marie Claire, the NY Daily News and Parenting magazine. She is also a contributor for ReviewFix.com and OpenForum.com. Samantha admires and loves speaking to startup founders who have taken an idea from conception to execution. Her private obsession is perusing through travel blogs and guidebooks, and she hopes one day to visit all seven continents and write about her experiences.

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