While we’re sure Mark Zuckerberg requires a great deal of security, we no way could have imagined it totaling up to $23 million! However, as per a recent filing with the Securities and Exchange Commission, Facebook has paid just the amount for the security of its worthy CEO!
In a proxy statement filed by the company, it was mentioned that “He (Zuckerberg) is synonymous with Facebook, and as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg.”
The company’s annual review of security programs showed the security costs for Zuckerberg and his family to have risen mainly due to the pandemic and the new travel protocols, the increased security coverage during the 2020 US election season and other periods, as well as growing costs for security personnel.
Overall, the costs include personal security for Mr. Zuckerberg at his residences and during personal travel (including the annual costs of security personnel for his protection and the procurement, installation, and maintenance of specific security measures for his residences), and an annual pre-tax allowance of $10 million to cover additional costs related to his and his family’s personal security.
The proxy statement further elaborated, “The compensation, nominating & governance committee believes that 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 does not receive any bonus payments, equity awards, or other incentive compensation.”
[Via – The Verge]
