Friday, Oct 28, 2016
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Facebook, Zuckerberg will sell 70M shares

MENLO PARK, Calif. — Facebook Inc. and Chairman and CEO Mark Zuckerberg are selling a combined 70 million shares of Class A stock as the social media company prepares to join the Standard & Poor’s 500 index.

The offering includes more than 41 million shares from Mr. Zuckerberg, who also will buy Class B shares that carry more voting weight. After a premarket stock dip of more than 4 percent on the news, Facebook’s stock recovered somewhat and closed down less than 1 percent.

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