Facebook director Peter Thiel sold roughly $400 million worth of shares in the Internet social networking company last week, cashing out most of his stake, according to a regulatory filing.

Thiel sold his 20 million shares at prices ranging between $19.27 and $20.69 per share, as the first “lock-up” barring early investors and insiders from selling shares after the initial public offering was lifted. Shares closed yesterday at $20.01, up 96 cents.