Zynga CEO Mark Pincus to Sell 15% of Stake
Shares of social gaming company Zynga (NASDAQ: ZNGA) are seeing some weakness this morning after the company's CEO, Mark Pincus, announced his plan to sell 15% of his stake in the company.
After Pincus sells his shares, he will control about 35.4% of the total voting power of Zynga.
Pincus will sell about $227 million worth of stock in a secondary offering, or 15%, which represents about 16.5 million shares.
Currently, shares of Zynga are trading about 1.71% lower at $13.52 per share.
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