Facebook Product Chief Chris Cox's 2020 Compensation Is Valued at $69.7 Million
April 09 2021 - 10:39PM
Dow Jones News
By Josh Beckerman
Facebook Inc. Chief Product Officer Chris Cox, who rejoined the
company in June last year, had 2020 compensation valued at $69.7
million, the company said in its proxy filing.
Most of the total is for restricted stock units with an initial
equity value of $60 million, with vesting scheduled to take place
in installments through August 2024, subject to continued
employment. The filing lists $421,385 for base salary and bonus
amounts of $691,334.
Mr. Cox is entitled to receive a $4 million sign-on bonus to be
paid after the one-year anniversary of rejoining the company,
subject to continued service.
Mr. Cox left the company in 2019 after disagreements with Chief
Executive Mark Zuckerberg. In a Facebook post last year about his
return, he said "2020 refocused us all, on a public health crisis,
an economic crisis, and now a reckoning of racial injustice. The
world is unsettled, divided. People are struggling when things were
already hard."
Facebook also said Chief Operating Officer Sheryl Sandberg's
total compensation value was $24.8 million, with the majority of
that reflecting stock awards.
The $25.3 million figure for Mr. Zuckerberg includes security
and aircraft expenses. As in previous years his base salary was
$1.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 09, 2021 22:24 ET (02:24 GMT)
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