Facebook stock sales scheduled for November 1.
The great Facebook cashout now has a date: November 1. Former and current employees recently received an email from Facebook’s stock administrator updating them on plans to let employees sell some of their shares, even though the company is still private. Details of the plan are expected in mid-October; one ex-employee characterized it as a “buyback.” That suggests that the company itself is going to buy shares from employees, and then sell them to an outside buyer.
