Facebook will sell 337.4 million shares. Of that amount, founder and CEO Mark Zuckerberg will sell 30.2 million shares of his own, meaning at the top of the price range we would be seeing Zuckerberg acquire about $1 billion of liquid assets (meaning cold, hard cash).
It's cold hard cash that will be destined mostly for the IRS, according to the filing. The majority of the proceeds from the sale of his 30.2 million shares will be used to pay the huge tax bill associated with the exercise of nearly 60 million shares.
Don't worry, Zuckerberg fans. The Facebook founder and CEO will still have plenty of Facebook stock. In fact, he will still control 57.3 percent of the voting shares post-IPO.
Of the 337.4 million shares, Facebook said it plans to offer 180 million shares of its Class A common stock and that selling shareholders are planning to offer 157.4 million shares. The company will not receive any of the proceeds from selling shareholders.
From the filing, here is a list of other shareholders besides Zuckerberg, and the number of shares they are planning to sell, if any:
- Accel Partners: 38.2 million shares
- DST Global: 26.2 million
- Goldman Sachs: 13.1 million
- Elevation Partners: 4.6 million
- Greylock Partners: 6.9 million
- Mail.ru Group: 11.2 million
- Zynga’s CEO Mark Pincus: 1 million
- Meritech Capital: 6.9 million
- Microsoft: 6.5 million
- Reid Hoffman: 942,784
- Sean Parker: None
- Tiger Global Management: 3.3 million