Last month we reported that Twitter chief executive Dick Costolo’s family trust had sold half of their shares in the company, reducing their investment from 566,920 shares to 283,460.
Now, they’ve unloaded another 141,730 shares from their Twitter portfolio, meaning that they’ve downsized their investment in Twitter to just 25 percent of their original stake.
The Richard Costolo 2001 Living Trust and Lorin Costolo 2001 Living Trust (named after Costolo’s wife) now has just 141,730 Twitter shares.
Recently Twitter co-founder Evan Williams also sold shares in Twitter for the first time.
Costolo personally owns 36,028 shares in the company, plus 509,828 unvested restricted stock units and 8.52 million options.
As we noted previously, Twitter has stated that these stock sales were done in accordance with a trading plan put on file 90 days ago. Still, with the turmoil surrounding Twitter’s future as a business and upper management’s place therein – not to mention a stock price that has almost halved in a year – the timing of these sales probably couldn’t have been much worse.