Was Susan Li's Meta (META) share sale pre-planned under Rule 10b5-1?

Yes. The filing states the sales were effected under a Rule 10b5-1 trading plan adopted on November 25, 2025 . Such plans allow insiders to schedule trades in advance, helping separate trading decisions from later-disclosed company information and reducing potential conflict-of-interest concerns.

Meta Platforms (NASDAQ: META) CFO foundation completes 56,571-share 10b5-1 sale

Q: At what prices were Meta (META) shares sold in the Li foundation transactions?

The reported sale prices are weighted averages for multiple trades, with ranges from about $639.62 to $649.03 per share. Each price band covers numerous individual transactions, and detailed breakdowns are available upon written request as noted in the filing footnotes.

Q: Who is the beneficial owner in the Meta (META) Form 4 filed by Susan Li?

The sales involve shares held by the Li-Hegeman Family Foundation , for which Susan Li is deemed to have voting and investment power. The filing states she has no pecuniary interest in these foundation-held shares, clarifying the economic benefit from the reported transactions.

Q: How many Meta (META) shares remain in the Li-Hegeman entities after the reported sales?

After the series of sales, the Li-Hegeman Family Foundation is shown with 0 shares remaining. A separate indirect holding, the Li-Hegeman Living Trust , is reported with 13,186 Meta Class A shares following the transactions disclosed in this Form 4 filing.

Q: What type of security was traded in the Meta (META) Form 4 by Susan Li?

All reported transactions involve Meta Platforms Class A common stock as a non-derivative security . The trades are described as open-market sales conducted indirectly through the Li-Hegeman Family Foundation, rather than direct personal share sales by Susan Li herself.

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Meta Platforms, Inc. Chief Financial Officer Susan Li reported that the Li-Hegeman Family Foundation sold 56,571 shares of Class A common stock on February 27, 2026 in open-market transactions under a Rule 10b5-1 trading plan. Weighted average sale prices ranged from about $639.62 to $649.03 per share, and the foundation’s reported holdings fell to zero. A separate Li-Hegeman living trust is reported with 13,186 shares held indirectly after these transactions.

Insider Trade Summary

Net Seller: 56,571 shares ($36,471,144)

Net Sell 11 txns

Insider LI SUSAN J

Role Chief Financial Officer

Sold 56,571 shs ($36.47M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,426	$640.1058	$913K
Sale	Class A Common Stock	4,176	$641.2131	$2.68M
Sale	Class A Common Stock	5,515	$642.2646	$3.54M
Sale	Class A Common Stock	7,392	$643.2693	$4.76M
Sale	Class A Common Stock	6,733	$644.1153	$4.34M
Sale	Class A Common Stock	11,306	$645.2948	$7.30M
Sale	Class A Common Stock	11,744	$646.2509	$7.59M
Sale	Class A Common Stock	5,135	$647.0326	$3.32M
Sale	Class A Common Stock	1,530	$648.1629	$992K
Sale	Class A Common Stock	1,614	$648.8273	$1.05M
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 55,145 shares (Indirect, Li-Hegeman Family Foundation)

Footnotes (1)

The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 25, 2025. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $639.62 to $640.61 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Shares held of record by the Li-Hegeman Family Foundation (the "Foundation"). The reporting person is deemed to have voting and investment power over the shares held by the Foundation, but has no pecuniary interest in these shares. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $640.66 to $641.65 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $641.68 to $642.66 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $642.68 to $643.66 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $643.68 to $644.67 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $644.70 to $645.66 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $645.70 to $646.69 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $646.70 to $647.69 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $647.71 to $648.70 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $648.71 to $649.03 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Form 4 Insider Transactions: What Each Field Means →

03/03/2026 - 06:23 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LI SUSAN J

(Last)

(First)

(Middle)

C/O META PLATFORMS, INC.

1 META WAY

(Street)

MENLO PARK

94025

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Meta Platforms, Inc. [ META ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	02/27/2026		S⁽¹⁾		1,426	D	$640.1058⁽²⁾	55,145	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock	02/27/2026		S⁽¹⁾		4,176	D	$641.2131⁽⁴⁾	50,969	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock	02/27/2026		S⁽¹⁾		5,515	D	$642.2646⁽⁵⁾	45,454	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock	02/27/2026		S⁽¹⁾		7,392	D	$643.2693⁽⁶⁾	38,062	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock	02/27/2026		S⁽¹⁾		6,733	D	$644.1153⁽⁷⁾	31,329	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock	02/27/2026		S⁽¹⁾		11,306	D	$645.2948⁽⁸⁾	20,023	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock	02/27/2026		S⁽¹⁾		11,744	D	$646.2509⁽⁹⁾	8,279	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock	02/27/2026		S⁽¹⁾		5,135	D	$647.0326⁽¹⁰⁾	3,144	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock	02/27/2026		S⁽¹⁾		1,530	D	$648.1629⁽¹¹⁾	1,614	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock	02/27/2026		S⁽¹⁾		1,614	D	$648.8273⁽¹²⁾	0	I	Li-Hegeman Family Foundation⁽³⁾
Class A Common Stock								13,186	I	Susan Li and John Hegeman, Co-Trustees of The Li-Hegeman Living Trust u/t/a dated November 30, 2012

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 25, 2025.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $639.62 to $640.61 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. Shares held of record by the Li-Hegeman Family Foundation (the "Foundation"). The reporting person is deemed to have voting and investment power over the shares held by the Foundation, but has no pecuniary interest in these shares.

4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $640.66 to $641.65 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $641.68 to $642.66 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $642.68 to $643.66 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $643.68 to $644.67 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

8. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $644.70 to $645.66 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

9. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $645.70 to $646.69 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

10. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $646.70 to $647.69 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

11. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $647.71 to $648.70 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

12. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $648.71 to $649.03 per share. The holder undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Erin Guldiken, attorney-in-fact for Susan J. Li	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

How many META shares were sold in Susan Li's latest Form 4 filing?

The filing reports that the Li-Hegeman Family Foundation sold 56,571 shares of Meta Platforms Class A common stock. These were executed as open-market sales across multiple trades on February 27, 2026 under a Rule 10b5-1 trading plan.

At what prices were Meta (META) shares sold in the Li foundation transactions?

The reported sale prices are weighted averages for multiple trades, with ranges from about $639.62 to $649.03 per share. Each price band covers numerous individual transactions, and detailed breakdowns are available upon written request as noted in the filing footnotes.

Who is the beneficial owner in the Meta (META) Form 4 filed by Susan Li?

The sales involve shares held by the Li-Hegeman Family Foundation, for which Susan Li is deemed to have voting and investment power. The filing states she has no pecuniary interest in these foundation-held shares, clarifying the economic benefit from the reported transactions.

How many Meta (META) shares remain in the Li-Hegeman entities after the reported sales?

After the series of sales, the Li-Hegeman Family Foundation is shown with 0 shares remaining. A separate indirect holding, the Li-Hegeman Living Trust, is reported with 13,186 Meta Class A shares following the transactions disclosed in this Form 4 filing.

What type of security was traded in the Meta (META) Form 4 by Susan Li?

All reported transactions involve Meta Platforms Class A common stock as a non-derivative security. The trades are described as open-market sales conducted indirectly through the Li-Hegeman Family Foundation, rather than direct personal share sales by Susan Li herself.