Meta approves plan for bigger executive bonuses following 5% layoffs

Meta CEO Mark Zuckerberg appears at the Meta Connect event in Menlo Park, California, on Sept. 25, 2024. Executives at Meta stand to get bigger bonuses this year. The company said in a corporate filing Thursday that it had approved "an increase in the target bonus percentage" for its annual bonus plan for executives. Meta's named executive officers could earn a bonus of 200% of their base salary under the new plan, up from the 75% they earned previously, according to the filing. The updated bonus plan doesn't apply to Meta CEO Mark Zuckerberg, the filing noted. A committee for Meta's board of directors approved the change on Feb.13 after determining that the "target total cash compensation" for its executives "was at or below the 15th percentile of the target total cash compensation of executives holding similar positions" at peer companies. "Following this increase, the target total cash compensation for the named executive officers (other than the CEO) falls at approximately the ... Read full article.