Twitter founder Ev Williams just sold about $24 million of Twitter stock
Twitter founder Ev Williams just sold about $24 million worth of TWTR stock. The sale was planned and scheduled, according to an SEC filing.
The total number of shares disposed of was 468,000. At $51 per share, that comes out to about $24 million.
“The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person,” Williams’ disclosure says. Such trading plans allow execs to sell their stock on a fixed schedule so that they cannot be accused of insider trading or dumping it when the price is high. As luck would have it, the price is relatively high: At just over $51, TWTR has come up from a low of $30 in May 2014.
Here’s the chart from the SEC (click to enlarge):
SEC
Disclosure: The author owns Twitter stock.
NOW WATCH: This video of teenagers dangling at the top of a Hong Kong skyscraper is beyond intense
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
