Mark Zuckerberg and other customers of Facebook Inc's board have been sued by a shareholder who claimed a coverage letting them annually award administrators more than $150 million of inventory every if they choose is unreasonably generous. In a grievance submitted on Friday night time in Delaware Chancery Court, Ernesto Espinoza said the board was "essentially free to grant by itself what ever volume of compensation it chooses" under the social media firm's 2012 equity incentive plan, which also addresses workers, officers and consultants. He explained the strategy every year caps overall awards at 25 million shares and person awards at two.5 million, and in concept lets the board annually award administrators $156 million in stock each and every, dependent on Friday's closing value of $62.fifty. The lawsuit does not contend that this sort of massive sums will be awarded. Espinoza also stated last year's regular $461,000 payout to non-staff directors was too substantial, being 43 per cent larger than common payouts at "peer" organizations this sort of as Amazon.com Inc and Walt Disney Co that on common generated two times as much earnings and three occasions a lot more profit. Fb spokeswoman Genevieve Grdina explained in an e-mail: "The lawsuit is without merit and we will protect ourselves vigorousl 信箱服務." A spokeswoman for Robbins Arroyo, a regulation agency symbolizing the plaintiff, experienced no fast remark. The lawsuit alleges breach of fiduciary obligation, waste of company belongings and unjust enrichment. It seeks to force directors to repay Facebook for alleged damages sustained by the Menlo Park, California-based firm, and to impose "significant limits" topic to shareholder approval about how significantly inventory the board can award alone. Between the other defendants is Facebook Main Operating Officer Sheryl Sandberg, a director whose payment was $sixteen.15 million in 2013, in accordance to a regulatory submitting. She is well worth $999 million, Forbes journal said on Monday. Zuckerberg manufactured $653,one hundred sixty five previous 12 months, a regulatory filing exhibits, and Forbes stated his internet worth is $27.seven billion. Espinoza was also a plaintiff in a 2010 shareholder case in Delaware from Hewlett-Packard Co concerning its handling of the resignation of Chief Govt Mark Hurd in excess of his connection with a former contractor. The circumstance is Espinoza v. Zuckerberg et al, Delaware Chancery Courtroom, No. 9745.文件倉
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