Facebook CEO Mark Zuckerberg ensured the world that he would not pull a Peter Theil and sell his shares within the next 12 months, as indicated in this form filed today with the SEC. "As of the date of this report, Mark Zuckerberg has not adopted a Rule 10b5-1 Plan and has informed us that he has no intention to conduct any sale transactions in our securities for at least 12 months," reads the 8-K. Zuck has made this declaration, it seems, because with the stock continuing to lose its value he could -- and maybe from a financial perspective should -- do what Theil did and sell out before things get worse. But that would send the wrong message: the fearless leader has started to fear the worst. It already has investors worried enough. Plus we've heard morale within isn't so great either, with Zuckerberg having to give a pep talk to employees about the future of the company. But now, Zuck has shown his commitment to making this company work. And for those same reasons, we presume, the filing also indicates that other big investors, Netscape founder Marc Andreessen and The Washington Post Co. CEO Donald Graham, haven't given up hope yet, with them promising to hold on to their shares, too, except to pay taxes.
This article is from the archive of our partner The Wire.