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Twitter Inc. (TWTR), the microblogging service whose shares have more than doubled since its November initial public offering, will give insiders the first chance to sell their stock tomorrow.
As many as 9.87 million of non-executive employees’ shares will become eligible for sale as agreements that locked them up after the IPO expire, according to filings with the U.S. Securities and Exchange Commission. That would boost the number of shares available for trading by 12 percent to about 90 million, according to data compiled by Bloomberg. More stock will start to become available for trading in May. Twitter's Non-Executive Employees Get Their First Chance to Sell Stock [bloomberg.com]