Zynga CEO Selling $225 Million Worth Of StockBy: Mike Fossum - March 23, 2012
Against yesterday’s closing price, the shares are worth $227 million. Adjusted to an assumed discount to where it’s traded, Pincus will likely end up with about $225 million.
Fortune’s Dan Promack sorted out the filing, and came up with this list on everyone who is selling:
CEO Mark Pincus: 16.5 million shares, leaving him with around 94 million shares
Institutional Venture Partners: 5.8 million shares, leaving it with around 28.5 million shares
Union Square Ventures: 5.2 million shares, leaving it with around 25.5 million shares
Reid Hoffman: 687,000 shares, leaving him with nearly 3.9 million shares.
Own Van Natta: 505,000 shares, leaving him with around 2.18 million shares.
Zynga, the social network game developer (Farmville), was recently in the news for acquiring OMGPOP, the maker of “Draw Something.” It was also recently reported that Zynga’s stock had been downgraded by JP Morgan.