Asa Mathat | Re / code
Chris Cox, Facebook’s chief product officer, received roughly $ 69 million to rejoin the social media company in 2020.
Cox returned 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 awards 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, stock compensation rose dramatically, 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 cash reward of $ 4 million this year, which will be paid 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 wasn’t with the company to act as a strategic advisor.