4 ms·
In the interest of keeping Facebook private, I'm sure they would have given out the shares with some sort of stipulation against selling them without Facebook a
by aston 18y ago
In the interest of keeping Facebook private, I'm sure they would have given out the shares with some sort of stipulation against selling them without Facebook approval. Once too many people have shares, the company would be required to IPO.
- ryanwaggoner 18y agoYou may be referring to something different, but Facebook was exempted from the SEC rule that requires companies with more than 500 shareholders to report their financials publicly (so a public company, but not publicly traded). http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/ http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-...
- aston 18y agoThat ruling only applies to the RSUs they give out to employees. If you check out the last page, it's quite explicit that normal Facebook shares and options aren't exempt.