Meta has approved a significant increase in the target bonus percentage for its executives, raising it to 200% of their base salaries from 75%. This move comes after concerns that their target total cash compensation was below industry standards, placing them at or below the 15th percentile compared to peers. Interestingly, CEO Mark Zuckerberg is not included in this plan. This development follows recent layoffs affecting 5% of the company's workforce and a reduction in stock options for employees. Despite these changes, Meta’s stock has increased by over 47% in the past year due to strong revenue growth in the digital advertising sector.
Meta's board has approved a notable increase in target bonus percentages for its executives, permitting them to earn up to 200% of their base salaries now.
The boost in executive compensation arrives shortly after the announcement of layoffs impacting 5% of its workforce, which will notably affect the lowest performers.
Despite the layoffs and stock option reductions for employees, Meta's stock has surged by over 47% in the past year, driven by rising revenue in digital advertising.
The adjustments to the executive compensation plan were prompted by the realization that Meta’s compensation was falling behind compared to its peers, warranting a significant increase.
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