Zuckerberg paid more than $2 bln at Facebook in 2012

Facebook co-founder and chief Mark Zuckerberg scored more than $2 billion worth of stock and $503,000 in base pay last year for running the world's leading social network.

Zuckerberg was also given bonuses that added up to slightly more than $266,000, according to a Facebook filing on Friday with the US .

He received $1.22 million in "other compensation," more than half of which was said in the filing to involve the use of chartered aircraft for travel by Zuckerberg and guests as part of a "comprehensive ."

Facebook provided US regulators a breakdown of and other matters that will be topics at an annual meeting of shareholders set to take place on June 11.

"In the first quarter of 2012, the compensation committee decided to increase the base salaries of our executive officers, other than our CEO," Facebook said in the document.

"Accordingly, our compensation committee increased the base salary of each executive officer, other than our CEO, by $35,000 or $40,000."

Zuckerberg has served as chairman of the board at Facebook since the beginning of last year.

His base pay will remain the same this year, while chief operations officer Sheryl Sandberg's was raised to $340,000, according to the filing. Her bonus last year added up to $276,730, the paperwork indicated.

Sandberg was paid $321,000 last year, along with a bonus of $276,730 and about $25.6 million worth of stock awards, Facebook told the FTC.

Sandberg's bonus "reflected her leadership in growing our revenue year over year and her strategic guidance in various business matters," the filing said.

Zuckerberg exercised options to acquire 60 million shares of Facebook stock, which were valued at just shy of $2.28 billion, according to the SEC filing.

He holds 607,599,549 shares of Class B stock in Facebook and another 1,939,987 in Class A shares, the company said in the .

The SEC in March endorsed a Nasdaq exchange plan to create a $62 million pool of cash to cover trading losses due to computer glitches that disrupted the launch of Facebook shares onto the market.

The huge electronic market's foul-up marred the $16 billion Facebook issue in May, the most hotly awaited initial public offering on the US markets in years.

The hit a high of $45 on the first day, but slid below $18 in the following weeks. shares were trading at $26.85 at the Nasdaq close on Friday.


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(c) 2013 AFP

Citation: Zuckerberg paid more than $2 bln at Facebook in 2012 (2013, April 27) retrieved 11 December 2019 from https://phys.org/news/2013-04-zuckerberg-paid-bln-facebook.html
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