Twitter Co-founders, CEO Have No Current Plans To Sell Shares

(RTTNews) - Micro-blogging site Twitter Inc. (TWTR) said in a regulatory filing Monday that its co-founders, Jack Dorsey and Evan Williams, and Chief Executive Richard Costolo have no current plans to sell any of their company shares.

The announcement comes as the restrictions on insider trading at Twitter, which debuted on the New York Stock Exchange on November 7 following a successful initial public offering, expire on May 5.

Additionally, Benchmark venture capital funds, which are affiliated with a member of Twitter's board of directors, have also no present intention to sell or distribute stock to their limited partners before or immediately after the expiration of the lockup on May 5, the San Francisco, California-based company said in the filing.

Twitter shares are currently gaining 0.07% after closing the day's regular trading session at $40.87, up 82 cents or 2.05%.