A new filing with the Securities and Exchange Commission reveals that Facebook spent more than $ 23 million last year on security for CEO Mark Zuckerberg. Facebook's annual security reviews of the company "identified specific threats to Mr. Zuckerberg," according to a proxy statement filed on Friday.
"Facebook Facebook is synonymous with Facebook, and as a result, negative sentiment about our company is directly related to and often transmitted by, Mr. Zuckerberg," Proxy says of the role of Facebook CEO.
The company's annual review of security programs found that spending on protecting Zuckerberg and his family increased in 2020 mainly due to COVID-19 travel protocols, increased security coverage during the 2020 U.S. election season "and other periods with increased security risk," as well as increased spending on security personnel.
The" All other compensation " section of the proxy statement shows Facebook spent $ 23 million for personal security at Zuckerberg's residence and for travel for him and his family. The CEO also received an additional $ 10 million to put on security personnel and other security expenses. The cost of basic security last year was $13.4 million, compared to $ 10.4 million a year earlier.
"The compensation, appointment, and management committee believes that these expenses 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," according to the proxy statement.
In addition, in a proxy filed Friday, Facebook said it would put forward a proposal at its May 26 shareholder meeting to offer personal security to non-employee directors from time to time, which it says is necessary because of "the ongoing scrutiny our directors face as a result of their service on our board of directors."
Facebook approved personal security services for some of the non-employee directors 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 2020 U.S. election and the attack on the U.S. Capitol Building on January 6, 2021," the proxy statement said.
Facebook COO Sheryl Sandberg's January report found that some extremist rioters in the Capitol attacks used private groups on Facebook for months to plan and coordinate the January 6 insurgency, despite remarks by Facebook COO Sheryl Sandberg that " the events were largely organized on platforms that lack our ability to stop hate, lack our standards, and lack our transparency."