The FINANCIAL — Facebook Inc. director Marc Andreessen sold roughly 15% of his stake in the social network in recent days, netting nearly $31.9 million, according to a securities filing late Tuesday.
Mr. Andreessen sold 309,464 shares held in two trusts Friday and Monday, according to the filing. The sales came just days before Facebook is scheduled to report third-quarter financial results Wednesday.
Mr. Andreessen, who has been on Facebook’s board since June 2008, didn’t respond to an email requesting comment. A spokesman for Andreessen Horowitz, the venture-capital firm co-founded by Mr. Andreessen, declined to comment on Mr. Andreessen’s personal investments.
A spokeswoman for Facebook declined to comment.
Mr. Andreessen sold the shares under a prearranged trading plan, according to Tuesday’s filing. He sold the shares in nine transactions at prices ranging from $101.96 to $104.22 per share, according to Nasdaq.
Facebook shares closed Tuesday at $102.58, near its 52-week high of $105.12.
As of March 31, Mr. Andreessen owned roughly 1.68 million Class A shares and had claim over 379,429 Class B supervoting shares that were part of Facebook’s 2014 acquisition of Oculus VR, according to Facebook’s most recent proxy statement. Andreessen Horowitz had been an investor in Oculus.
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