Facebook Chief Financial Officer David Ebersman exercised an option to purchase class-B shares and converted them to class-A, while Chief Accounting Officer Jas Athwal sold off some shares, according to form 4 filings Monday with the Securities and Exchange Commission.
Another 70 million Facebook shares will hit the market, as the social network announced an underwritten registered public offering of class-A common stock, with 27,004,761 coming from the company itself and another 42,995,239 from certain stockholders, including 41,350,000 from Co-Founder and CEO Mark Zuckerberg.
Facebook Co-Founder and CEO Mark Zuckerberg is receiving a base salary of just $1 for 2013, but he won’t be clipping coupons anytime soon, as he still finished atop the 2013 CEO Pay Survey from independent researcher GMI Ratings.
You can’t get to 1.11 billion friends without spending a few dollars: Consumer Watchdog reported that the social network spent $2.45 million on lobbying efforts during the first quarter of 2013, up a whopping 277 percent from $650,000 in the year-earlier period.
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.
Not too many people can handle a tax bill of more than $1 billion, but Facebook Co-Founder and CEO Mark Zuckerberg is a member of that exclusive club, and CNN Money reported that his total tab will likely end up at around $1.1 billion.
How much federal and state income tax did Facebook pay in 2012? If you guessed, “zero,” you were correct, and if you guessed that the social network received $429 million in net tax refunds, you get extra credit.
Recession? What recession? Assuming two anonymous responders to a Quora post are telling the truth, there’s certainly no shortage of money for engineers joining Facebook straight out of school.