Re:Meta lays off 11,000 people
by airstrike on Wednesday November 09, 2022 @06:31PM
(#33539716)
There is generally very little that is weasely "implied" in SEC filings. The company is representing those facts to shareholders (maybe even more so in a proxy filing, which is what shareholders must read before voting at their annual general meeting). So every single word is very heavily scrutinized to avoid ambiguity, with the text remaining mostly constant over the years except for what really needs to be updated to avoid any inadvertent change in meaning.
The excerpt I quoted was written for a different purpose (namely to explain the $10M / year and whether the compensation committee deems it appropriate), so perhaps you feel that the language is somewhat vague as far as answering your question goes. I actually think it's pretty clear as it ends with
> "has requested to receive only $1 in annual salary and does not receive any bonus payments, equity awards, or other incentive compensation."
> "2021 Equity Awards. Mr. Zuckerberg did not receive any additional equity awards in 2021 because our compensation, nominating & governance committee believed that his existing equity ownership position sufficiently continued to align his interests with those of our shareholders."
The excerpt I quoted was written for a different purpose (namely to explain the $10M / year and whether the compensation committee deems it appropriate), so perhaps you feel that the language is somewhat vague as far as answering your question goes. I actually think it's pretty clear as it ends with
> "has requested to receive only $1 in annual salary and does not receive any bonus payments, equity awards, or other incentive compensation."
But earlier on in the document (https://www.bamsec.com/filing/132680122000043/1?cik=1326801&...), they do make the explicit assertion that you are looking for:
> "2021 Equity Awards. Mr. Zuckerberg did not receive any additional equity awards in 2021 because our compensation, nominating & governance committee believed that his existing equity ownership position sufficiently continued to align his interests with those of our shareholders."