From LA Times: With Facebook's S-1 filed with the Securities and Exchange Commission for what is set to be a blockbuster IPO worth at least $5 billion in May, Mark Zuckerberg is now firmly sitting among Silicon Valley's top chief execs, if he wasn't already. And, probably with that in mind, Zuckerberg is falling in line with a tradition among some of the valley's top CEOs: a $1 annual salary.
Zuckerberg received a $500,000 salary in 2011 and he'll get a $100,000 raise to $600,000 this year, Facebook's S-1 filing said. Zuckerberg also received a $220,500 bonus in the first half of 2011, the filing said.
"In the first quarter of 2012, our compensation committee discussed and approved a request by our CEO to reduce his base salary to $1 per year, effective Jan. 1, 2013," the document said.
Zuckerberg asked for the dramatic salary cut in the first quarter of 2012, according to the S-1, which would mean he made the request sometime in January, given that the document was filed Feb. 1….
Find out more at http://latimesblogs.latimes.com/technology/2012/02/mark-zuckerbergs-salary-dropping-to-1-in-2013-facebook-ipo-filing-says.html
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