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Meta Platforms has approved a new bonus plan where its executive officers could earn a bonus of 200% of their base salary, the social media and tech giant said in a filing.
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CEO Mark Zuckerberg isn’t included in the new bonus plan, announced in a Securities and Exchange Commission filing Thursday.
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The new bonus is up from 75% of each executive's base salary previously.
Meta Platforms (META) has approved a new bonus plan where its executives could earn a bonus of 200% of their base salary, the social media and tech giant said in a filing.
CEO Mark Zuckerberg isn't included in the new bonus plan, announced in a Securities and Exchange Commission (SEC) filing Thursday. The new bonus is up from 75% of each executive's base salary previously.
Meta said its Compensation, Nominating & Governance Committee had made the decision to raise bonuses after it concluded "that the target total cash compensation for the named executive officers (other than the CEO) was at or below the 15th percentile of the target total cash compensation of executives holding similar positions at the peer group of companies that the Company benchmarks against for executive compensation purposes."
Shares of the Facebook, Instagram, and WhatsApp parent have gained 19% since the start of the year and are up 47% over the past 12 months through Thursday's close, comfortably surpassing the S&P 500's returns over the same periods of 4% and 23%, respectively.
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