Facebook chief financial officer David Ebersman cashed in more than 900,000 shares of Facebook stock Wednesday, a transaction that netted the exec nearly $43 million, according to documents filed with the Securities and Exchange Commission.
The sale was pre-arranged as part of Ebersman's automatic trading plan, which means it does not necessarily reflect on the current status of Facebook, according to a company spokesperson. The 900,000-plus shares equated to roughly 8.5% of the CFO's total equity in the company.
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Ebersman, who joined Facebook in 2009 after spending years as an exec at biotech giant Genentech, helped lead Facebook through its 2012 IPO. Investors took some time warming up to the social network, but seem to have changed their tune recently. Shares of Facebook ($FB) have more than doubled in the last year, closing Wednesday at $48.71.
The CFO has been cashing in small chunks of his ownership nearly every month alongside other Facebook execs, such as chief operating officer Sheryl Sandberg. In early August, Sandberg sold more than 2.3 million shares worth $91 million.
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