(Nasdaq:FB) Zuckerberg & Facebook Directors Face Pay Plan Trial (+video)

Mark Zuckerberg and other members of Facebook’s board have been sued by a shareholder who claimed a policy letting them annually award directors more than $150 million of stock each if they choose is unreasonably generous. In a complaint filed on Friday night in Delaware Chancery Court, Ernesto Espinoza said the board was “essentially free to grant itself whatever amount of compensation it chooses” under the social media company’s 2012 equity incentive plan.

This case is not related to the latest trial faced by FB CEO Mark Zuckerberg in Iran. It’s not very likely that Mr. Zuckerberg is on his way to Iran to stand trial for the complaints. Iran and the United States do not have an extradition…

Mark Zuckerberg’s net worth comes from his 28.1% equity stake in the company he founded in 2004. Facebook headquarters are based in Menlo Park, California, far from Delaware Chancery Court where Ernesto Espinoza filed his case. NASDAQ:FB CEO Mark Zuckerberg and his wife, Priscilla Chan were amongst the mot generous billionnaires in Silicon Valley in 2013.

For 150M$, Mark Zuckerberg is sued for overpaying board members, together with Facebook directors, including Facebook chief operating officer Sheryl Sandberg.

[grabpress_video guid=c6910ef0d11fc33af0391f9afd9d70e08b148953 embed_id=2151917]

Thanks for checking us out. Please take a look at the rest of our videos and articles.

To stay in the loop, bookmark our homepage.

Signup for free to be the first to receive exclusive free links. Now in your mailbox!
Join over 15,000 subscribers
Send me links

Your information will not be shared to anyone