Twitter CEO, co-founders not selling stock

Twitter said its CEO Dick Costolo and co-founders Jack Dorsey and Evan Williams have no plans to sell any of their shares when the company's post-IPO lock-up expires on May 5.

Lock-up periods prevent company insiders from selling stock following an initial public offering. Twitter went public on Nov. 7, pricing its stock at $26 per share. The stock later soared as high as $74.73. On Monday, the stock was trading at $40.49, up about 1 percent.

(L-R) Jack Dorsey and Evan Williams
Jamie McCarthy | WireImage | Getty Images
(L-R) Jack Dorsey and Evan Williams

Twitter Inc., based in San Francisco, also said Monday that Benchmark Capital also doesn't have plans to sell stock before or immediately after May 5. Peter Fenton, a general partner at Benchmark, is on Twitter's board.

By The Associated Press