Zuckerberg to sell Facebook shares worth $2.3bn to pay tax billDecember 19, 2013 - 16:36 AMT PanARMENIAN.Net - Facebook Inc founder and CEO Mark Zuckerberg will sell 41.4 million shares worth about $2.3 billion to pay a tax bill, as part of an offering by the social network of 70 million Class A common shares, according to Reuters. Facebook shares, which have doubled in value this year, were down 4 percent at $53.54 before the bell. Zuckerberg's sale will reduce his voting power to 56.1 percent from 58.8 percent, the company said in a filing on Thursday, Dec 19. Facebook said it expects Zuckerberg to use most of the net proceeds from the sale to satisfy taxes related to the exercise of an option to buy 60 million Class B shares. Each Class A share is entitled to one vote, while Class B shares are entitled to 10 votes and are convertible at any time into one Class A share. Board member Marc Andreessen will also sell 1.65 million Class A shares, while Facebook will sell 27 million. J.P. Morgan, BofA Merrill Lynch, Morgan Stanley and Barclays are joint bookrunners for the offering. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. Aliyev travels to Turkey at Erdogan's invitation On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions. Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha. |