Facebook's Zuckerberg, Sandberg up for big bonuses

New documents related to the social network's upcoming IPO show that the founder and his COO could become even wealthier than they already are.

A share of Facebook, filed today with the SEC

And the money keeps getting larger--at least for Mark Zuckerberg.

Facebook today added some details to its S-1, the document the mammoth social network filed last week with the SEC to lay out its plan to raise $5 billion in an IPO slotted for this spring.

Among the items filed, including the picture of an actual share shown above, are new employment agreements for founder and CEO Zuckerberg and for COO Sheryl Sandberg. Both execs are eligible for 45 percent bonuses of their base salaries plus other wages.

Zuckerberg's base salary for this year is locked in at $500,000, while Sandberg's is $300,000. So a bonus is small fry compared with the money they stand to gain from a successful stock offering. Zuckerberg, for instance, controls a hefty proportion of Facebook and is already a multibillionaire.

But every bit counts, especially since last week's S-1 says that effective January 1, 2013, Zuckerberg's annual salary will drop to $1.

About the author

Paul Sloan is editor in chief of CNET News. Before joining CNET, he had been a San Francisco-based correspondent for Fortune magazine, an editor at large for Business 2.0 magazine, and a senior producer for CNN. When his fingers aren't on a keyboard, they're usually on a guitar. Email him here.


Discuss Facebook's Zuckerberg, Sandberg up for big...

Conversation powered by Livefyre

Show Comments Hide Comments
Latest Articles from CNET
Extra sneaky Hammertoss malware acts just like you on your computer