Last week the media began to anticipate the first flood of private Facebook shares onto the market as the first lock-up expired. Now, Peter Thiel, an early investor in the social media site, has sold 20.1 million shares, according to USA Today. Through his affiliates, Thiel offloaded the shares on Thursday and Friday, for a total of about $396 million.
That means those 20 million or so shares went for prices between $19.27 and $20.69, according to USA Today. Thiel wasn't the only one shifting his stock portfolio around after the lock-up expired. Other early investors, like Accel Partners distributed stock to its partners.