Meta Platforms Inc. filed SEC Form 8-K: Leadership Update
$FB
Internet and Information Services
Technology
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 26, 2022
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed by Meta Platforms, Inc. (the "Company"), former Chief Operating Officer Sheryl Sandberg will no longer serve as an employee of the Company after September 30, 2022, but will continue to serve as a member of the Company's Board of Directors (the "Board") and will receive compensation as a non-employee director pursuant to the Company's Director Compensation Policy (the "Director Compensation Policy").
As described in more detail in the Company's definitive proxy statement filed with the Securities and Exchange Commission on April 8, 2022, the Company has provided an overall security program for Ms. Sandberg in light of specific threats to her safety as a result of her high-profile role, and the Company also provides personal security services to non-employee members of the Board from time to time under the Director Compensation Policy.
On September 26, 2022, in light of continuing threats to her safety identified by the Company's security professional assessments, and as also recommended by the Compensation, Nominating & Governance Committee of the Board, the Board approved the provision of personal security services to Ms. Sandberg under the Director Compensation Policy, for a period from her transition to a non-employee director role on October 1, 2022 up to June 30, 2023. As part of the security program, the Company will pay for certain costs related to personal security for Ms. Sandberg at her residences and during personal travel, including the costs of security personnel for her protection.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| META PLATFORMS, INC. | |||||||||||
| Date: | September 30, 2022 | By: | /s/ Katherine R. Kelly | ||||||||
| Name: | Katherine R. Kelly | ||||||||||
| Title: | Vice President, Deputy General Counsel and Secretary | ||||||||||