Meta approves bonuses of up to 200% of company executives' salaries as it trims stock awards for employees

Summary

Meta has approved a compensation plan allowing executives to receive bonuses of up to 200% of their base salary, according to an SEC filing.

The decision follows Meta’s announcement to cut about 4,000 jobs, roughly 5% of its workforce.

The company also reduced annual equity refreshers for employees by approximately 10%.

Meta justified the executive pay increase by stating that their cash compensation was below market rates.