A new filing with the Securities and Exchange Commission reveals that Facebook spent more than $ 23 million on security for CEO Mark Zuckerberg last year. Facebook’s annual corporate security reviews “identified specific threats to Mr. Zuckerberg,” said one proxy statement filed on Friday
“He is synonymous with Facebook, and as a result negative sentiment about our company is directly associated with and often transferred to Mr. Zuckerberg,” the proxy says of the role of Facebook’s CEO.
The annual review of the company’s security programs found that costs for protecting Zuckerberg and his family increased in 2020, mainly due to COVID-19 travel protocols, increased security coverage during the 2020 US election season, “and other periods. with an increased security risk ”, as well as rising costs for security personnel.
The “all other fees” section of the proxy statement reveals that Facebook spent $ 23 million on personal security at Zuckerberg’s homes and on travel for him and his family. The CEO was also given an additional $ 10 million to spend on security personnel and other security costs. Basic security costs were $ 13.4 million last year, compared to $ 10.4 million the year before.
“The Compensation, Appointment and Management Committee believes 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 no bonus payments, stock rewards or other incentive payments. Said the proxy statement.
Also in the proxy filed Friday, Facebook said it will make a proposal at its May 26 shareholders meeting to provide personal safety to non-employee directors from time to time, which it says is necessary due to “ongoing scrutiny by our directors as a result of their service in our board of directors. “
Facebook approved personal security services for some of its non-employee executives in January and February “in light of the high level of scrutiny faced by our company and our executive officers and directors, as well as the dynamic and charged atmosphere following the US election. 2020 and the attack on the US Capitol Building on January 6, 2021, ”the proxy statement said.
A January report from the Tech Transparency Project found that some extremist rioters had used private groups on Facebook for months to plan and coordinate the January 6 uprising, despite comments from Facebook COO Sheryl Sandberg that the “events were largely organized on platforms incapable of stopping hatred, not over our standards and without our transparency.”