LKND is registering 8 million shares, of which 1,271,255 will be sold by the company and 6,728,745 by some of the shareholders.
The registration statement:
sec.gov
LinkedIn CEO, other insiders prepare to sell stock
Monday, November 14, 2011
(11-14) 17:02 PST SAN FRANCISCO, (AP) --
LinkedIn's employees and early backers plan to sell more than 6.7 million shares as they reap the gains from a rapid run-up in the online professional networking service's market value.
CEO Jeff Weiner wants to sell more than 372,000 shares, the most among LinkedIn's management. The company listed the amounts in a regulatory filing Monday.
After two years as LinkedIn's CEO, Weiner is in line for a $29 million windfall from the sale. That's based on Monday's closing price of $78.49 for LinkedIn's shares. The stock sold for $45 per share in an initial public offering completed in May.
Reid Hoffman, LinkedIn's co-founder and executive chairman, isn't selling any of his nearly 19 million shares.
LinkedIn Corp. plans to sell nearly 1.3 million additional shares to help finance its expansion.
© 2011 Hearst Communications Inc.
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