Marc Andreessen Sells $12.8 Million Of Meta Stock, Emptying An Andreessen Horowitz Fund Line
The Meta director sold 20,951 shares Monday at an average $609.74, while 49,448 shares remain held through a trust and a second fund line.
Marc Andreessen, a Meta director, sold 20,951 shares of Meta stock in open-market trades on Monday, a Form 4 filed Wednesday shows. The sales, worth $12.8 million, took one Andreessen Horowitz fund line to zero shares.
Eight price tiers, one emptied line
The shares were sold across eight price tiers at a weighted average of $609.74, for a transaction value of $12.8 million. The prices ran from $606.85 on the first and largest block, 5,573 shares, up to $613.88 on the last block of 64 shares.
All of the shares came from Andreessen Horowitz Fund VIII, L.P., a line he reports as indirect ownership. The filing says he and Benjamin Horowitz are managing members of the fund's general partner, and that Andreessen owns the shares only to the extent of his financial stake in them.
The sale equals 29.76% of his prior 70,399-share position. None of his holdings are direct.
What Andreessen still holds
The filing reports 49,448 Meta shares still held indirectly, through the LAMA Community Trust and a second fund line. Andreessen and his spouse are trustees of the trust. At Wednesday's close of $630.00, those shares were worth about $31.2 million.
Meta, which runs Facebook, Instagram, Messenger, Threads and WhatsApp and earns substantially all of its revenue from advertising, is the company on whose board he sits.
A second sale since August
Andreessen's Form 4 filings since August 6 show two sale filings totaling 21,377 shares and $13.0 million. The earlier one covered 426 shares, sold on August 4 at about $588.98 a share for $251,000.
The stock closed Wednesday at $630.00, above every price tier of Monday's sales.
Further Form 4 filings from Andreessen would show whether sales continue from the trust-held shares.
Sources
- Form 4 — Marc Andreessen (META) — SEC EDGAR
