Welcome to WebmasterWorld Guest from 54.196.214.35

Forum Moderators: httpwebwitch & not2easy

Message Too Old, No Replies

Facebook Sued Over Directors Remuneration

     
1:43 pm on Jun 11, 2014 (gmt 0)

Administrator from GB 

WebmasterWorld Administrator engine is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month

joined:May 9, 2000
posts:22318
votes: 240


That does seem like an unusual way to go about things for a public company.

Facebook Inc. (FB:US) and Chairman Mark Zuckerberg’s program of letting company directors set their own pay, capped at stock currently worth $145 million per person, wastes corporate assets, an investor said in a lawsuit.

Facebook’s board (FB:US) paid non-employee directors an average of $461,000 last year in stock, exceeding industry peers by as much as 43 percent, shareholder Ernesto Espinoza said in a lawsuit filed in Delaware Chancery Court.

“Moreover, the members of the board are free to continue to award themselves virtually any amount of compensation they choose into perpetuity,” according to the complaint made public today in Wilmington. Facebook Sued Over Directors Remuneration [businessweek.com]
9:32 am on July 5, 2014 (gmt 0)

New User

joined:July 5, 2014
posts:2
votes: 0


I was not aware of this one wow! With all the money they got I wonder how worried they actually are.
7:56 pm on July 5, 2014 (gmt 0)

Senior Member from US 

WebmasterWorld Senior Member lucy24 is a WebmasterWorld Top Contributor of All Time Top Contributors Of The Month

joined:Apr 9, 2011
posts:12717
votes: 244


Yeah, seriously, who do they think they are-- the U.S. Congress?