Photo: Michael Gil via Flickr
Facebook has approved the use of a private plane for CEO Mark Zuckerberg and COO Sheryl Sandberg.Zuckerberg can also use the private plane for personal purposes as part of the company’s security plan for him.
In those cases, they’ll count it as part of his compensation. Last year, the company spent $692,679 this way.
From the company’s S-1 filing this afternoon:
Our compensation committee has also authorised our CEO and COO to use private aircraft for business purposes. This practice maximizes such executives’ productive time and ensures their quick availability. In addition, Mr. Zuckerberg may use private aircraft for personal purposes in connection with his comprehensive security program. On certain occasions, Mr. Zuckerberg may be accompanied by family members or others when using private aircraft. For flights involving passengers flying for personal purposes, the aggregate incremental cost of such personal usage is reported as other compensation to Mr. Zuckerberg.