Chris Cox paid $ 69 million after returning to Fb
Asa Mathat | Re / code
Chris Cox, Facebook’s chief product officer, received roughly $ 69 million to rejoin the social media company in 2020.
Cox came back to Facebook in June 2020 after a break from Facebook for more than a year. Cox is a key moral leader at Facebook and one of its key strategic executives, coordinating how the company’s various services work together.
According to the company’s proxy statement for 2021, Cox earned more than $ 421,000 in salaries, more than $ 691,000 in bonuses, and stock rewards with a fair value of nearly $ 68 million that are vested over the next four years become.
Cox’s salary and bonus declined from his earnings in 2018, his last full year with the company. However, the share compensation skyrocketed, with Facebook finding that the massive compensation was granted in connection with Cox’s re-entry into the company.
The company also notes that Cox will receive an additional $ 4 million cash reward this year to be paid out within 30 days of the one year anniversary of his return to Facebook.
Additionally, the proxy states that Facebook paid Cox $ 90,000 when he was away from the company to act as a strategic advisor.