Twitter Co-Founder Sells Stock for the First Time

Twitter Co-Founder Sells Stock for the First Time

Twitter co-founder Evan Williams has sold shares in Twitter for the first time.

This follows news last month that Twitter CEO Dick Costolo’s family trust had liquidated 50 percent of their Twitter stock, after initial sales in July and October.

Williams, alongside fellow founders Jack Dorsey and Biz Stone, launched Twitter in March 2006. According to an SEC filing, Williams sold more than 719,000 Twitter shares this week at a price between $39.83 and $40.00 per unit, netting about $28.7 million.

Overall, Williams sold about 2 percent of his stake in Twitter.

In March it was reported that Williams owned 55.7 million shares, which is a little under 10 percent of the company’s total stock, and worth approximately $2.3 billion.

Dorsey also sold $2.1 million of Twitter stock last month.

A Twitter representative said that Williams sold stock under a prearranged trading plan set up 90 days ago.

(Source: Wall Street Journal. Evan Williams image via Shutterstock.)

Publish date: December 1, 2014 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT