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Facebook's Mark Zuckerberg promises to not sell any shares in the social networking site for a year

Mark Zuckerberg vows to not sell any of his shares in Facebook for twelve months

By Anthony Garreffa on Sep 5, 2012 02:31 am CDT - 0 mins, 42 secs reading time

In a move that looks to instil confidence in the quite troublesome stock found in social networking site, Facebook, CEO and founder Mark Zuckerberg has promised not to sell any of his shares in Facebook for twelve months.

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The news comes from a filing from Zuckerberg with the SEC. Facebook board members, Marc Andreessen and Donald Graham will be selling some of their shares in the social network, but only to cover a tax bill reports the Business Insider.

From this news, it sounds good, as the big players holding stock will be holding their stock for twelve more months. More news has comes out, noting that Facebook employees lock-up periods have been reduced, instead of having to wait until November 14, they can start selling their shares on October 29.

Facebook's stock was up 2% on this news after it hit.

Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

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