Twitter Insiders Sell More Stock

Twitter Insiders Sell More Stock

Twitter’s share price has fallen more than 40 percent in 2014, but that hasn’t stopped many of the company’s biggest names cashing in as the year comes to an end.

Earlier this month co-founder Evan Williams sold Twitter stock for the first time, and this week he sold another 744,000 indirectly held Twitter shares, earning $27,880,633.

Williams remains Twitter’s biggest overall shareholder, holding 54,107,093 shares, representing a stake of 8.52 percent, down from 8.64 percent before his latest sale.

Twitter Insiders Sell More Stock

Recently the family trust of Twitter CEO Dick Costolo sold the last of their Twitter stock, earning $22.62 million from the liquidation.

Costolo still owns 36,028 Twitter shares himself, plus 509,828 unvested restricted stock units and 8.52 million options.

General Counsel Vijaya Gadde, VP of product Kevin Weil, VP of engineering Alexander Roetter and president of revenue Adam Bain also sold Twitter stock in December.

Overall, Twitter insiders sold 1,181,619 shares for $44,892,077, an average of $37.99 each, between December 1st and 23rd, says Barrons.

Publish date: December 31, 2014 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT