Meta Platforms (NASDAQ: META) Chief Product Officer Christopher Cox has filed to sell 20,000 Class A shares worth approximately $13.55 million, according to a U.S. securities filing.
The sale, scheduled for February 27, will be conducted through Charles Schwab & Co. Inc. under a Rule 10b5-1 trading plan adopted in November 2024. This plan, commonly used by executives, allows insiders to pre-schedule stock sales to avoid accusations of trading on non-public information.
The filing indicates that Cox acquired the shares through restricted stock vesting, with 10,113 shares unlocking earlier this month. He sold a similar amount on February 26, raising $13.29 million.
Shares of Meta, the parent company of Facebook, Instagram, WhatsApp, and Threads, have gained significantly this year amid increased investments in artificial intelligence and the metaverse. However, the company continues to face regulatory scrutiny and growing competition in the digital advertising sector.
