Donald E. Graham, the Washington Post Co.’s chairman and chief executive, sold $6.7 million worth of Facebook shares that he received as a director of the social media company, according to a Securities and Exchange Commission filing.
Graham still has 609,164 shares of Facebook that were granted to him as a director. Facebook shares closed Monday at $25.94 each, up 8 percent, making Graham’s remaining stake worth $15.8 million.
According to the SEC filing, Graham sold the stock on Nov. 19 at prices ranging from $22.85 to $24.06 a share.
Facebook said in an Aug. 30 SEC filing that Graham and fellow Facebook director Marc Andreessen were both expected to sell shares to cover tax liabilities from the vesting of their restricted stock grants. “Other than such tax-related sales, Mr. Andreessen and Mr. Graham have no present intention to sell any shares of our common stock held by them personally,” Facebook’s August filing said.
Graham has said in the past that when he does sell any of his Facebook shares, he would devote the proceeds to educational causes. On Monday, he could not be reached for comment.