Executive officers in Meta are ready to get large bonuses this year. In a corporate filing on Thursday, the company announced an increase in target bonus percentage for its annual executive bonus scheme. Under the new structure, the nominated executive officer of the meta can now earn a bonus of 200% of his Aadhaar pay, which is a significant jump from the last 75%.
However, according to the filing, there are no changes on Mark Zuckerberg, CEO of Meta.
A committee of the Board of Directors of Meta approved the adjustment on 13 February that the executive compensation was “below or less” to the executive compensation “compared to similar roles. With the increase, the total target for the nominated officers of the meta – except the CEO – now aligns with the 50th percent of its industry partners.
The disclosure of the update bonus scheme comes exactly a week after the closure of 5% of the meta of the meta, a step that the company earlier said that it would target its lowest performing employees. Additionally, according to a Financial Times report published on Thursday, Meta has cut its annual stock-option distribution by about 10% for thousands of employees. The effect of these deductions may vary depending on the locations and roles of the employees.
Despite these cost-cutting measures, Meta’s stock has increased by more than 47% in the last one year, which has closed at $ 694.84 on Thursday. The rally reflects the confidence of investors in the company’s growing digital advertising revenue and its long -term capacity of its AI investments.
In January, Meta reported revenue for the fourth quarter of $ 48.39 billion, with an increase of 21% year -on -year.
