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Facebook more than doubles Zuckerberg compensation to $22.6 mln

Reuters

April 12 () - Facebook Inc more than doubled the money it spent on Chief Executive Officer Mark Zuckerberg's security in 2018 to $22.6 million, a regulatory filing showed on Friday.

Zuckerberg has drawn a base salary of $1 for the past three years, and his "other" compensation was listed at $22.6 million, most of which was for his personal security.

Nearly $20 million went toward security for Zuckerberg and his family, up from about $9 million the year prior. Zuckerberg also received $2.6 million for personal use of private jets, which the company said was part of his overall security program.

Chief Operating Officer Sheryl Sandberg took home $23.7 million in 2018 compared to $25.2 million last year.

Separately, Facebook said Netflix Chief Executive Officer Reed Hastings would vacate his seat on the social media company's board and not be nominated for re-election.

Hastings' departure comes as the Menlo Park-based company beefs up its push into videos. Hastings has served on Facebook's board since 2011.

The company also said it would nominate PayPal's senior vice president of core markets, Peggy Alford, to its board in place of University of North Carolina President Emeritus Erskine Bowles, who will also not be re-nominated.

Facebook shares closed at $179.07 Friday evening.


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