Mark Zuckerberg tries to reassure investors with a pledge that he will not sell shares for 12 months

As Facebook shares hit a record low this week, chief executive Mark Zuckerberg said that he would not sell his Facebook stock for at least another 12 months.

The announcement comes in an effort to reassure anxious investors concerned that shares will flood the market when the lock up period comes to an end in the coming months.

Peter Thiel, a Facebook director and one of its earliest investors, sold most of his shares a couple of weeks ago after the first lock up period ended.

In addition to Thiel, Facebook said two of its board members, Marc Andreessen and Donald Graham, also plan to sell shares to cover tax liabilities.

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