Zuckerberg's Symbolic New Salary: $1
His billions in stock options should cushion the blow
By John Johnson, Newser Staff
Posted Apr 27, 2013 9:52 AM CDT
Facebook CEO Mark Zuckerberg speaks at the company's headquarters in Menlo Park, Calif., on April 4.   (AP Photo/Marcio Jose Sanchez)

(Newser) – Mark Zuckerberg has joined another exclusive club: that of tech CEOs so fabulously wealthy they can afford to take a $1 salary. A Facebook filing yesterday said Zuckerberg will make that amount this year and forgo any bonuses, reports Quartz. The real pay, of course, comes in the form of stock options, and yesterday's filing quantified for the first time how much Zuckerberg made by exercising some of his before last year's IPO: $2.3 billion, reports AP.

Zuckerberg exercised 60 million options at the time, but then sold half of that stock to cover the resulting $1 billion tax bill. Zuckerberg made a base salary of about $500,000 last year and got another $266,000 in bonuses. His zipping around on company planes cost another $1.2 million or so. Facebook shares, incidentally, have yet to close above the $38 IPO price, finishing yesterday at $26.85. But that's still a lot better than the price of 6 cents that Zuckerberg paid less than a decade ago, notes the Drum.

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Comments
Showing 3 of 8 comments
orlandojonny
Apr 28, 2013 3:23 PM CDT
This is the well known tax dodge because bonus and stock are taxed at a lower rate than salary
$3586407
Apr 28, 2013 8:45 AM CDT
Salary < > Compensation. A common parlor trick.
OuttaHere
Apr 27, 2013 6:25 PM CDT
Just another ultra-rich dude dodging taxes and spinning it to look like he is making a big sacrifice. Cheap trick Zuck.