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Full Article Live coverage of Hurricane Sandy Interactive: Tracking Sandy How to protect your insurance claims Video: Time lapse animation of Hurricane Sandy Follow Reuters Facebook Twitter RSS YouTube Read Hurricane Sandy lashes U.S. East Coast | 4:51pm EDT Iran has pictures of restricted Israeli areas: Iran MP 8:02am EDT Analysis: U.S. presidential race is all about Ohio - or is it? 1:21am EDT Evacuations, shutdowns on East Coast before storm | 28 Oct 2012 Massive Hurricane Sandy takes aim at East Coast | 27 Oct 2012 Discussed 540 White House told of militant claim two hours after Libya attack: emails 158 After final debate, Obama says election comes down to trust 131 Trump to give $5 million to charity if Obama releases records Sponsored Links Sandy foils Facebook staffers' long-awaited stock sales Tweet Share this Email Print Related News Stock futures end short session lower; market closed Tuesday 4:13pm EDT Energy markets rise on Sandy, insurers fall 3:54pm EDT Stock markets closed as storm hobbles New York 1:27am EDT Star Silicon Valley analyst felled by Facebook IPO fallout Fri, Oct 26 2012 Citi fined $2 million over Facebook IPO, fires two analysts Fri, Oct 26 2012 Analysis & Opinion How Goldman Sachs protects itself from a hundred-year storm Review: The danger of trading machines Related Topics Investing Simplified » Tech » Media » Facebook » The Nasdaq logo is seen on the exterior of the Nasdaq MarketSite as a headline about the Facebook stock scrolls on the Times Square Newsticker, in New York, May 22, 2012. Credit: Reuters/Brendan McDermid By Alexei Oreskovic SAN FRANCISCO | Mon Oct 29, 2012 3:50pm EDT SAN FRANCISCO (Reuters) - Facebook Inc's Silicon Valley headquarters are far away from the eye of Hurricane Sandy, yet for employees of the social networking company, the storm hit home. After nearly six months of watching helplessly as the value of Facebook's stock crumbled, Facebook employees finally got the greenlight to cash in some of their stock on Monday as the "lock-up" on trading them expired. Unfortunately, any would-be sellers will have to wait a little longer, as the New York Stock Exchange and Nasdaq were both closed on Monday because of Sandy, the exchanges' first weather-related shutdown in 27 years. Both exchanges said they would remain closed on Tuesday as well, pending confirmation. Roughly 234 million shares of Facebook stock owned by company employees were eligible for trading on Monday. Facebook had moved up the lock-up expiration date for employees by a few weeks, a move that analysts said could help bolster morale among the company's rank-and-file who have been unable to sell shares even as other insiders and early investors have sold. The end of the employee lock-up also comes as Facebook's stock has been on the rise, gaining more than 12 percent last week after the company reported better-than-expected quarterly results. Facebook shares closed Friday's regular session at $21.94. The world's No. 1 online social network became the first U.S. company to debut on the public markets with a valuation of more than $100 billion. But Facebook's May initial public offering has been marked by a series of setbacks, including a glitch with the Nasdaq on its first day of trading and controversial revelations that the company had pre-briefed analysts for its underwriters ahead of the IPO, advising them to reduce their profit and revenue forecasts. Shares of Facebook, which were priced at $38 in the IPO, declined to as low of $17.55 in September as investors fretted about its slowing revenue growth and limited mobile advertising revenue. (Reporting by Alexei Oreskovic; Editing by Richard Chang) Investing Simplified Tech Media Facebook Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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