Facebook has detailed the pay of 27-year-old Facebook co-founder and CEO Mark Zuckerberg as well as four other executives. These are people who are set to be billionaires at least on paper when the company goes public as part of its $5 billion initial public offering (IPO).
All five individuals are in line for annual target bonuses of 45 percent of their salary plus other base wages. For Zuckerberg, the bonus could amount to roughly $225,000 this year, based on his annual salary of $500,000. Zuckerberg's employment letter is dated May 17, 2005. That's long after he was thinking about selling Facebook off to a bigger company.
Here is what the numbers say about the other four for 2012, as well when they signed documents to work for Facebook:
- Facebook COO Sheryl Sandberg may receive a bonus of $135,000 based on her annual base salary of $300,000. Sandberg's employment letter is dated February 20, 2008.
- Facebook CFO David Ebersman may receive a bonus of $135,000 based on his annual base salary of $300,000. Ebersman's employment letter is dated September 9, 2009.
- Facebook Vice President of Engineering Mike Schroepfer may receive a bonus of $123,750 based on his annual base salary of $275,000. Schroepfer's employment letter is dated August 6, 2008.
- Facebook Vice President and General Counsel Theodore Ullyot may receive a bonus of $123,750 based on his annual base salary of $275,000. Ullyot's employment letter is dated September 24, 2008.
These salaries of course don't take into account the executives' stocks in the social networking giant. If you were worried their salaries are on the low side, don't be.
When Facebook amended its IPO filing this week, there were details surrounding Zynga's close relationship with the company as well as details as to how Zuckerberg has so many voting shares. Now we've also got details on Facebook's five executives.
Here are the relevant documents filed with the U.S. Securities and Exchange Commission (SEC) you may want to check out for more information: AMENDED AND RESTATED OFFER LETTER - MARK ZUCKERBERG, AMENDED AND RESTATED EMPLOYMENT AGREEMENT - SHERYL K. SANDBERG, AMENDED AND RESTATED OFFER LETTER - DAVID A. EBERSMAN, AMENDED AND RESTATED OFFER LETTER - MIKE SCHROEPFER, and AMENDED AND RESTATED EMPLOYMENT AGREEMENT - THEODORE W. ULLYOT.
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