Twitter Inc Chief Costolo Unloads TWTR Shares

Twitter Inc (NYSE:TWTR)’s Chief Executive Officer Richard Costolo, fighting a battle to boost investor confidence as the stock has fallen nearly 45 percent so far this year, is selling a significant portion of shares in the microblogging service.

The Richard Costolo 2001 Living Trust and Lorin Costolo 2001 Living Trust, citing diversification concerns, sold 141,730 Twitter shares on Dec. 15 for $5.32 million, according to a Bloomberg report citing regulatory filings.  Costolo had held shares of the company during its 2013 initial public offering, viewed as a sign of faith.

Costolo owns 36,028  Twitter shares

While trusts named...