Because of the problems that Facebook was involved in. Zuckerberg’s personal security expenses rise in 2020
A new filing with the Securities and Exchange Commission shows that Facebook spent more than $23 million last year securing CEO Mark Zuckerberg.
Annual reviews of the company’s security showed that there were « specific threats to Mr. Zuckerberg, » according to the company’s agent’s statement to the committee on Friday.
« Zuckerberg’s name is synonymous with Facebook, and as a result negative feelings about our company are directly linked, and are often passed on to Mr. Zuckerberg, » the agent says of Facebook’s CEO role.
The costs of protecting Zuckerberg and his family rose in 2020, mainly due to The Covid-19 travel protocols, increased security coverage during the 2020 U.S. election season, « and other periods of increased security risk, » as well as higher costs for security personnel.
Facebook spent $23 million on Zuckerberg’s personal security housing and travel with him and his family, the « All Other Compensation » section said in the proxy statement.
The Chief Executive also received an additional $10 million to cover security personnel and other security costs, while basic security cost $13.4 million last year, compared to $10.4 million the year before.
« The Compensation and Governance Commission believes that these costs are appropriate and necessary in light of a threat, and the fact that Mr. Zuckerberg has requested only $1 of annual salary and does not receive any additional payments, stock bonuses, compensation and other incentives, » the company’s agent’s statement said.
Also in Friday’s statement, Facebook said it would submit a proposal at the May 26 shareholders’ meeting to provide personal security to unhindered managers from time to time, which it says is necessary because of the « constant scrutiny our managers face as a result of their service to our board of directors. »
Facebook approved the personal security services of some non-staff managers in January and February « in light of the high level of scrutiny faced by our company, our executives and managers, as well as the charged atmosphere after the 2020 U.S. election and the attack on the U.S. Capitol on January 6, 2021, » the agent’s statement said.
A report released last January by the Technical Transparency Project Committee found that some extremist rioters in the Capitol attack had for several months used private Facebook groups to plan and coordinate the attack, despite remarks by Facebook Operations Director Sheryl Sandberg that « events were largely organised on platforms that do not have our capacity to stop hate, do not have our standards and do not enjoy our transparency. »