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Facebook CEO: security 25 million dollars, salary 1 dollar

Facebook spent more than USD 25 million on CEO Mark Zuckerberg in 2020, according to a proxy statement for the annual share holders´ meeting that the company has filed. This is up around USD 2 million, mainly explained by increased security costs. Zuckerberg accepted a USD 1 salary from Facebook, as he has in previous years, and didn’t receive any bonus payments or incentive compensation, the company said in the filing.

”The costs of Mr. Zuckerberg’s security program vary from year to year depending on requisite security measures, his travel schedule, and other factors. Increased costs in 2020 were primarily due to regular personal travel, costs relating to security protocols during the COVID-19 pandemic, increased security coverage during the 2020 U.S. elections and other periods with increased security risk, and market increases in the costs of security personnel”, the statement said.

”The compensation, nominating & governance committee believes that these costs are appropriate and necessary in light of the threat landscape and the fact that Mr. Zuckerberg has requested to receive only $1 in annual salary and does not receive any bonus payments, equity awards, or other incentive compensation.”

Insider was first reporting about the statement that shows that Facebook last year spent more than USD 13.4 million on personal security for Zuckerberg “at his residences and during personal travel pursuant to Mr. Zuckerberg’s overall security program”.

He also received a pre-tax annual allowance of USD 10 million for his family’s security, taking total security spend to USD 23.4 million, plus $1.8 million in costs for his use of private jets.

“Mr. Zuckerberg’s role puts him in a unique position. He is synonymous with Facebook, and as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg.”


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