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Facebook spent over $23 million on CEO Mark Zuckerberg's security in 2020

Apart from personal security, the "all other compensation" category included Zuckerberg's travel costs. His base security costs rose to $13.4 million from $10.4 million in 2019.

twitter-logoIndia Today Tech | April 12, 2021 | Updated 16:25 IST
(Picture: Reuters)

Highlights

  • Facebook spent over $23 million on CEO Mark Zuckerberg’s security in 2020.
  • Facebook COO Sheryl Sandberg made $22.5 million in 2020.
  • According to the company, security was approved for Facebook’s non-employee executive officers and directors following the 2020 US elections.

Facebook spent over $23 million on CEO Mark Zuckerberg's security in 2020 as listed in the filing with the Securities and Exchange Commission (SEC). Facebook reportedly approved security services for non-employee directors in January and February in light of the high level of scrutiny faced by the company. Apart from personal security, the "all other compensation" category included Zuckerberg's travel costs. His base security costs rose to $13.4 million from $10.4 million in 2019. The Facebook CEO also received an extra $10 million to put towards additional personnel, equipment, services, residential improvements, or other security-related costs.

"We believe that 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. Mr. Zuckerberg is one of the most recognised executives in the world, in large part as a result of the size of our user base and our continued exposure to global media, legislative, and regulatory attention," Facebook in the proxy statement filed with the SEC noted.

According to the statement, security was approved for Facebook's non-employee executive officers and directors following the "dynamic and charged atmosphere" following the 2020 US elections and the attack on the US Capitol Building on January 6, 2021.

"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," the proxy statement further noted.

Facebook also noted that it will put forward a proposal at its May 26th shareholder meeting to offer personal security to non-employee directors from time to time, citing ongoing scrutiny "faced by our directors as a result of their service on our board of directors."

Facebook COO Sheryl Sandberg made $22.5 million in 2020. She also received a $4,76,953 bonus for the second half, for the "continuation of her strategic leadership in the wake of the global pandemic, including strong revenue performance and support of small businesses and partnership development, as well as the overall leadership of internal operations, including privacy, policy, and diversity."


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