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Twitter Execs Will Hang On To Their Stock For Now

The newly public company's leadership announced they will not sell their stock once they are eligible to do so for the first time next month.

Posted on April 14, 2014, at 12:59 p.m. ET

The Associated Press

The leadership at Twitter is playing the long game with their shares of the newly public company's stock. In a filing with the Securities and Exchange Commission Monday, the company announced that co-founders Evan Williams and Jack Dorsey, as well as CEO Dick Costolo, had no plans to sell their shares after the lock-up period prohibiting them from doing so ends on May 5.

With 9.4% of Twitter's stock, Williams is the largest shareholder of the three, a haul estimated to be worth $2.3 billion. Dorsey and Costolo follow with 4% and 1.4%, respectively.

Joining the pledge not to sell off Twitter shares immediately following the deadline is Benchmark Capital, a venture capital firm that owns a 5.4% stake and was an early investor in the company.

Shares of Twitter, which went public last November, were trading around $41.46 Monday afternoon.