November 14, 2012
NEW YORK -- Facebook's biggest lock-up period -- a time following an IPO that prevents insiders from selling stock -- expires on Wednesday.
This means employees, former employees, and investors can now sell shares they own in the social networking company. The expiration dates have been looming over Facebook's stock. If a lot of investors sell at once and flood the market with new shares, the company's stock price could decline. In all, 773 shares become eligible for sale Wednesday, along with 31 million restricted stock units. In addition, about 48 million shares held by former Facebook employees will also be eligible for sale, bringing the total to 852 million.
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