Facebook Inc. Chief Product Officer Chris Cox, who rejoined the company in June last year, had 2020 compensation valued at $69.7 million, the company said in its proxy filing.
Most of the total is for restricted stock units with an initial equity value of $60 million, with vesting scheduled to take place in installments through August 2024, subject to continued employment. The filing lists $421,385 for base salary and bonus amounts of $691,334.
Mr. Cox is entitled to receive a $4 million sign-on bonus to be paid after the one-year anniversary of rejoining the company, subject to continued service.
Mr. Cox left the company in 2019 after disagreements with Chief Executive Mark Zuckerberg. In a Facebook post last year about his return, he said “2020 refocused us all, on a public health crisis, an economic crisis, and now a reckoning of racial injustice. The world is unsettled, divided. People are struggling when things were already hard.”
Facebook also said Chief Operating Officer Sheryl Sandberg’s total compensation value was $24.8 million, with the majority of that reflecting stock awards.