News Summary: Facebook CEO won't sell for 1 year

The Associated Press

September 4, 2012 at 7:23 PM

HOLDING ON: Facebook says its CEO, Mark Zuckerberg, won't sell stock in the company for at least the next 12 months.

THE SIGNIFICANCE: There had been concerns that additional shares could flood the market and depress stock prices further if Zuckerberg sold stock when he is eligible Nov. 14.

OTHER DEVELOPMENTS: Facebook says two board members, Marc Andreessen and Donald Graham, plan to sell shares to cover taxes, but have no "present intention" to sell any additional stock.

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News Summary: Facebook CEO won't sell for 1 year

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