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[video] Quick Take: Facebook CEO Zuckerberg Sells Shares to Pay Taxes

NEW YORK (TheStreet) -- Shares of Facebook (FB) are trading lower on Thursday on news CEO Mark Zuckerberg is selling over 40 million shares as part of a 70 million-share secondary offering. 

However, TheStreet's Debra Borchardt suggested the selling isn't all that bad when analyzed.  

Zuckerberg plans to sell 41.4 million shares for an estimated $2.3 billion to pay taxes on a stock-option purchase of 60 million Class B shares, Borchardt said. 

She said Zuckerberg's voting power would drop to 56.1% from 58.8%, which is still a rather sizable stake. 

Must Read: Apple Takes Orders for New Mac Pro

The secondary includes what Zuckerberg is selling plus 27 million shares from the company and 1.65 million shares from board member Marc Andreessen, she said. 

Borchardt noted that FB will be added to the S&P 500 at the close of trading on Friday. Facebook shares are up over 100% in 2013.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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