Facebook kept the Securities and Exchange Commission busy late Thursday, following up its Form 8-K filing — in which it announced a five-year senior unsecured revolving credit facility with JPMorgan Chase, allowing it to borrow up to $6.5 billion — with Form 4 filings by Chief Marketing Officer David Fischer, Vice President and General Counsel Colin Stretch, and Chief Accounting Officer Jas Athwal.
Facebook announced in a Form 8-K filing with the Securities and Exchange Commission Thursday that it entered into a five-year senior unsecured revolving credit facility with JPMorgan Chase, allowing it to borrow up to $6.5 billion, and replacing its existing credit facilities. The company also paid off the $1.5 billion principal amount that had been outstanding under the now-terminated amended and restated term loan, also with JPMorgan Chase.
Facebook Co-Founder and CEO Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg received the most withheld votes of the eight members of the social network’s board of directors that were re-elected at its annual meeting Tuesday, according to the Form 8-K Facebook filed with the Securities and Exchange Commission Thursday.
Facebook Co-Founder and CEO Mark Zuckerberg will experience a dramatic pay cut in 2013, when his annual salary will be slashed to $1 and he will not receive a bonus, after total compensation of nearly $2 million in 2012. But the nearly $2.3 billion he took in last year after exercising 60 million stock options just prior to the social network’s May 18 initial public offering should help ease the blow.
Jim Breyer, who has been on Facebook’s board of directors since 2005, will leave his position in June, according to a form 8-K filing. Facebook reported that Breyer will not be up for re-election, and that his final meeting will be June 11. In a statement, Breyer said he is stepping down to focus more on his position with the Harvard University Corporation Board.