Mark Zuckerberg, chief executive officer of Facebook Inc., won approval from U.S. antitrust authorities for a transaction that a person familiar with the matter said involves the exercise of stock options he’ll receive from the company’s initial public offering.
The social network’s chief executive disclosed in a company filing Feb. 1 that he plans to exercise options for 120 million shares with the initial public offering. Facebook said in its IPO prospectus last month that Zuckerberg plans to use proceeds from a share sale to pay taxes he will owe on the exercise of the options.
Facebook spokesman Jonathan Thaw declined to comment. The person who said the transaction involves Zuckerberg’s stock options declined to be identified because he wasn’t authorized to speak publicly about the matter.
All transactions of more than $68.2 million must be reported to antitrust regulators for review by law. The U.S. Federal Trade Commission today announced the plan was approved without identifying the nature of the transaction.
The value of the Menlo Park, California-based company could be from $75 billion to $100 billion, two people familiar with the matter told Bloomberg in January. Based on that valuation, Zuckerberg’s stock options could reach almost $5 billion.
To contact the reporters on this story: Sara Forden in Washington at email@example.com;
To contact the reporter on this story: Brian Womack in San Francisco at firstname.lastname@example.org.