​​​
  1. WhatsApp’s Koum gets $458 million in stock before Facebook exit

WhatsApp’s Koum gets $458 million in stock before Facebook exit

Jan Koum may be leaving Facebook Inc. but that didn’t stop him from getting stock awards this week worth $458 million.

By: | Published: May 18, 2018 11:53 AM
WhatsApp, Koum, Facebook, stock market, shares, Butterfly Trust, Facebook shares The co-founder of WhatsApp, a Facebook messaging unit, had 2.5 million shares vest Tuesday, with about half withheld to satisfy tax obligations.

Jan Koum may be leaving Facebook Inc. but that didn’t stop him from getting stock awards this week worth $458 million. The co-founder of WhatsApp, a Facebook messaging unit, had 2.5 million shares vest Tuesday, with about half withheld to satisfy tax obligations, according to a regulatory filing. Koum’s Butterfly Trust sold the rest on Wednesday.

Koum, 42, confirmed in an April 30 Facebook post that he’s leaving the social-media giant, without saying exactly when that will happen. He won’t stand for re-election to the board at the firm’s May 31 annual meeting, the company said in a filing. A Facebook spokeswoman declined to comment.

Koum still owns 4.6 million restricted shares, which vest in August and November. The awards are contingent on him being employed through those dates unless his exit is categorized as an involuntary termination or resignation for good reason, regulatory filings show.

Facebook shares rose 0.6 percent to $183.80 at 10:51 a.m. in New York, bringing this year’s advance to 4.2 percent.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top