According to the latest news, a Securities and Exchange Commission filing shows last year Facebook spent more than $23 million for CEO Mark Zuckerberg’s security. According to a proxy statement filed Friday, Facebook’s annual reviews of company security “identified specific threats to Mr. Zuckerberg”. The proxy statement says “He is synonymous with Facebook, and as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg.”
As per Facebook’s annual review of security programs, the costs of protecting Zuckerberg and his family rose last year mainly due to COVID-19 travel protocols, US election season, rising costs for security personnel, and “other periods with increased security risk”.
The statement’s “all other compensation” section shows that the company has spent $23 million for personal security at Zuckerberg’s residences and for his and his family’s travel. Apart from this, the CEO also got an additional $10 million to put toward security personnel and other security costs. In 2019, the cost of base security was $10.4 million. It rose up to $13.4 million last year.
As per the proxy statement, “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”.
The statement also reveals that Facebook is going to put forward a proposal at its 26th May shareholder meeting to offer personal security to non-employee directors from time to time. Facebook believes this is necessary because of “ongoing scrutiny faced by our directors as a result of their service on our board of directors.”
Back in January and February, Facebook approved personal security services for some of its non-employee directors “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. elections and the attack on the U.S. Capitol Building on January 6, 2021”.
Though Facebook COO Sheryl Sandberg remarked “events were largely organized on platforms that don’t have our ability to stop hate, don’t have our standards and don’t have our transparency”, a report published by the Tech Transparency Project in January found that some Capitol rioters have used private groups on Facebook for months to plan and coordinate the