facebook
twitter
rss
account
search
search

Mark Zuckerberg's salary drops to $1, but he earns $3.3B through stock options

Facebook executives' drop in compensation was expected after the large amount of stock options they were offered when the company went public in 2012.
By Ananth Baliga   |   April 1, 2014 at 3:07 PM   |   Comments

http://cdn.ph.upi.com/sv/em/i/UPI-1271396376620/2014/1/13960200971738/Mark-Zuckerbergs-salary-drops-to-1-but-he-earns-33B-through-stock-options.jpg
MENLO PARK, Calif., April 1 (UPI) -- Facebook chief executive Mark Zuckerberg's base salary fell to $1 last year, but his total compensation for the year was $653,165 and $3.3 billion in stock options.

Much like other technology CEOs, such as Google's Larry Page and former Apple boss Steve Jobs, Zuckerberg claimed only $1 as base salary, according to an SEC filing released Monday. But Zuckerberg's total compensation works out to $653,165, down almost 70 percent from 2012 -- the bulk of it covered costs of personal security and private flights.

Zuckerberg owns 426.3 million Facebook shares, which are now worth around $25.7 billion after the company's stock value more than doubled over the last year on strong earnings reports.

Second-in-charge at Facebook, COO Sheryl Sandberg, earned $16.2 million in cash and stock, a $10 million pay cut from 2012, while CFO David Ebersman was paid $10.5 million, $7 million less than last year.

The filing reveals that Sandberg has been selling a significant portion of shares in the technology company as well. According to an analysis by the Financial Times, Sandberg held 41 million shares of Facebook when it listed in 2012 and has since sold more than 26 million of them.

Previously, Sandberg has said that she used the proceeds from selling shares to pay tax bills.

[SEC]
[BBC]

Follow @antbaliga and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
Trending News
Video
x
Feedback