Beginning in 2013, Facebook Chief Executive Mark Zuckerberg will earn just $1 a year in base salary, according to the company's S-1 filing today. The nominal sum would put Zuckerberg under the same base salary structure as his mentor, the late Steve Jobs. The compensation comes at the request of Zuckerberg, the filing says, and was approved by the company's compensation committee.
In 2011, Zuckerberg earned total compensation of $1.48 million, with about $500,000 of it in salary, a $220,500 bonus, and about $700,000 spent by the company on chartered aircraft. Zuckerberg's 28% stake in the company he founded in 2004 could make his eventual payout as high as $28 billion, the Wall Street Journal reports.
The company's highest paid executive last year was Chief Operating Officer Sheryl Sandberg, who recruited to the company from Google in 2008. Sandberg earned $30.87 million in 2011, with 98% of her total compensation coming in the form of stock. Her base salary was $295,833 and she earned a bonus of $86,133.
Write to Joseph Walker at Joseph.Walker@dowjones.com