Meta Platforms Announces Director Departure, New CRO, Compensation Changes

Ticker: META · Form: 8-K · Filed: 2025-02-20T00:00:00.000Z

Sentiment: neutral

Topics: leadership-change, executive-compensation, board-of-directors

Related Tickers: META

TL;DR

Wojcicki out, Fischer in as CRO. New pay plans announced.

AI Summary

On February 13, 2025, Meta Platforms, Inc. reported changes in its board of directors and executive compensation. Specifically, the company announced the departure of director Susan J. Wojcicki and the appointment of David M. Fischer as Chief Revenue Officer. The filing also details new compensatory arrangements for certain officers.

Why It Matters

Changes in board composition and executive roles can signal shifts in company strategy or governance, while new compensation plans can impact future financial performance and employee incentives.

Risk Assessment

Risk Level: medium — Changes in key leadership and executive compensation can introduce uncertainty regarding future strategy and financial performance.

Key Players & Entities

FAQ

Who has departed from Meta Platforms, Inc.'s board of directors?

Susan J. Wojcicki has departed from Meta Platforms, Inc.'s board of directors as of February 13, 2025.

Who has been appointed as the new Chief Revenue Officer at Meta Platforms, Inc.?

David M. Fischer has been appointed as the new Chief Revenue Officer at Meta Platforms, Inc.

What is the exact date of the earliest event reported in this 8-K filing?

The date of the earliest event reported in this 8-K filing is February 13, 2025.

What is Meta Platforms, Inc.'s SEC File Number?

Meta Platforms, Inc.'s SEC File Number is 001-35551.

What other items are covered in this 8-K filing besides director departure and officer appointment?

This 8-K filing also covers the election of directors and compensatory arrangements of certain officers.

From the Filing

0001326801-25-000021.txt : 20250220 0001326801-25-000021.hdr.sgml : 20250220 20250220163309 ACCESSION NUMBER: 0001326801-25-000021 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20250213 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20250220 DATE AS OF CHANGE: 20250220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Meta Platforms, Inc. CENTRAL INDEX KEY: 0001326801 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 201665019 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35551 FILM NUMBER: 25645974 BUSINESS ADDRESS: STREET 1: 1 META WAY CITY: MENLO PARK STATE: CA ZIP: 94025 BUSINESS PHONE: 650-543-4800 MAIL ADDRESS: STREET 1: 1 META WAY CITY: MENLO PARK STATE: CA ZIP: 94025 FORMER COMPANY: FORMER CONFORMED NAME: Facebook Inc DATE OF NAME CHANGE: 20050511 8-K 1 meta-20250213.htm 8-K meta-20250213 0001326801 false 0001326801 2025-02-13 2025-02-13 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): February 13, 2025 Meta Platforms, Inc. (Exact name of registrant as specified in its charter) Delaware 001-35551 20-1665019 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 1 Meta Way , Menlo Park , California 94025 (Address of principal executive offices and Zip Code) ( 650 ) 543-4800 (Registrant’s telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.000006 par value META The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously disclosed, Meta Platforms, Inc. (the "Company") maintains a Bonus Plan (the "Bonus Plan") that provides variable cash incentives, payable annually, which are designed to motivate its executive officers to focus on company priorities and to reward them for company results and achievements. Payouts under the Bonus Plan are calculated by multiplying (a) each executive officer's base eligible earnings times his or her target bonus percentage and (b) the company performance percentage approved by the Compensation, Nominating & Governance Committee (the "CNGC") of the Company's Bo

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