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: Facebook Founder Mark Zuckerberg raised nearly $200 million from stock trades in March

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Mark Zuckerberg, founder, chairman and chief executive of social media giant Facebook Inc., has raised nearly $200 million through hundreds of stock trades so far this month, as he converted nearly 550,000 Class A shares for $0, then sold more than 725,000 shares above $270.

The trades — there were many made every day so far this month through Friday, March 19 — were part of predetermined trading plans. They were made by Zuckerberg, as trustee of the Mark Zuckerberg Trust, or in the name of Chan Zuckerberg Initiative Foundation or for CZI Holdings LLC.

In Form 4 filings with the Securities and Exchange Commission, Zuckerberg disclosed that a total of 546,363 Class A shares
FB,
+0.46%

were acquired through the conversion of derivative securities at a price of $0.

He also disclosed that 725,204 Class A shares were sold, via roughly 350 recorded trades, at a weighted average price of about $270.11 to raise $195,887,332, according to a MarketWatch calculation of the data.

The sales represented less than 0.2% of shares beneficially owned by Zuckerberg, which the latest filing said was at 398,208,005 shares, or 14.2% of the shares outstanding, as of Dec. 31.

Also read: Mark Zuckerberg raised $35 million from Facebook stock trades this week.

The sales were made at prices as low as $254.08 on March 4 and as high as $292.61 on March 19. For reference, the stock traded in a range of $253.50 to $299.70 in March through Friday, with an average closing price for those 15 trading days of $269.02.

The stock edged up 0.2% in afternoon trading Tuesday. Through March 19, the stock had rallied 12.6% month to date, while the S&P 500 index
SPX,
-0.14%

had gained 2.7%.

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