1/8/2015
NEW YORK – Twitter CEO Dick Costolo has sold $5 million worth of the online social networking service’s stock in the first few days of 2015.
In a filing Tuesday with the U.S. Securities and Exchange Commission, Costolo reported that he sold a combined total of 140,352 shares in Twitter on Jan. 2 and Jan. 5 but still holds more than 800,000 of the company’s shares.
In December, two of the CEO’s family trusts liquidated the remainder of their shares in Twitter for some $20 million, financial news network CNBC recalled on Wednesday.
Twitter had a wildly successful initial public offering in November 2013, with its shares rising more than 70 percent – from $26 a share to $44.90 a share – on its first trading day.
The stock has struggled over the past year, however, and currently is selling at a price of less than $38 a share.
Twitter’s shares have fallen more than 40 percent over the past 12 months and were down around 3 percent in afternoon trading Wednesday on the Nasdaq.
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NEW YORK – Twitter CEO Dick Costolo has sold $5 million worth of the online social networking service’s stock in the first few days of 2015.In a filing Tuesday with the U.S. Securities and Exchange Commission, Costolo reported that he sold a combined total of 140,352 shares in Twitter on Jan. 2 and Jan. 5 but still holds more than 800,000 of the company’s shares.
In December, two of the CEO’s family trusts liquidated the remainder of their shares in Twitter for some $20 million, financial news network CNBC recalled on Wednesday.
Twitter had a wildly successful initial public offering in November 2013, with its shares rising more than 70 percent – from $26 a share to $44.90 a share – on its first trading day.
The stock has struggled over the past year, however, and currently is selling at a price of less than $38 a share.
Twitter’s shares have fallen more than 40 percent over the past 12 months and were down around 3 percent in afternoon trading Wednesday on the Nasdaq.
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