The leadership at Twitter is playing the long game with their shares of the newly public company’s stock. In a filing with the Securities and Exchange Commission Monday, the company announced that co-founders Evan Williams and Jack Dorsey, as well as CEO Dick Costolo, had no plans to sell their shares after the lock-up period prohibiting them from doing so ends on May 5.
With 9.4% of Twitter’s stock, Williams is the largest shareholder of the three, a haul estimated to be worth $2.3 billion. Dorsey and Costolo follow with 4% and 1.4%, respectively.
Joining the pledge not to sell off Twitter shares immediately following the deadline is Benchmark Capital, a venture capital firm that owns a 5.4% stake and was an early investor in the company.
Shares of Twitter, which went public last November, were trading around $41.46 Monday afternoon.
- David Fry, the last of the Oregon wildlife refuge occupiers, has surrendered to the FBI, ending a 40-day protest.
- Physicists have found gravitational waves: wrinkles in space-time that could open up a new way to see the universe 🔭
- Time for Democratic presidential debate number six: Hillary Clinton and Bernie Sanders will face each other in Wisconsin tonight 🇺🇸