by roger chartier 9-5-2012
Most of us couldn’t really pay that tax but…
The “What to do” decision
Apparently has been made. They won’t sell stock to cover the tax nut. Facebook will cover the tax with cash and some borrowing from their own credit facilities.
Workers at Facebook
Who bought stock are also getting a deal in that they can cash in their stock weeks ahead of schedule. They might be selling upwards of 234,000,000 shares. The company has waived the market stand-off position for employees and they can sell on October 29, 2012 just 4 days past the October 23 3rd quarter financial report.
Although they were down recently
In after hours trades Facebook shares jumped up 1.8 percent to $18.25. Just last Tuesday they were at $17.55 a share. In the long run though Facebook stock has taken a severe plunge since they came out last May and the stock supply is going down by 101,000,000 after this transaction.