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Facebook spent nearly $9 million on private jets and security for CEO Zuckerberg

Facebook Inc. FB, +0.40% spent just about 37 times the typical employee's salary on non-public security and personal jets for Chief Executive Mark Zuckerberg's security in 2017, the company mentioned past due Friday in a Security and Exchange Commission filing. Zuckerberg gained $1 in repayment and gained no inventory, however the corporate mentioned the company paid for his security at non-public apartments, and all over personal commute, which integrated using non-public aircraft. Facebook spent $7.3 million on non-public security and $1.5 million in 2017 on Zuckerberg's use of private aircraft; the company spent $5.8 million on security for Zuckerberg within the year-earlier period. "Because of the high visibility of our company, our compensation & governance committee has authorized an 'overall security program' for Mr. Zuckerberg to address safety concerns due to specific threats to his safety arising directly as a result of his position as our founder, Chairman, and CEO," the filing mentioned. "We require these security measures for the company's benefit because of the importance of Mr. Zuckerberg to Facebook, and we believe that the costs of this overall security program are appropriate and necessary." According to the filing the median repayment for Facebook employees was $240,430 in 2017, a figure which does not come with contractors or employees employed through third-party suppliers. The absolute best repayment for an government was Chief Operating Officer Sheryl Sandberg, who was awarded $25.2 million in general repayment. Facebook inventory is up a fraction in after hours trading Friday and closed up 1% to $164.52 all over the regular consultation. Facebook inventory has fallen 6.7% this 12 months, as the S&P 550 index SPX, -0.29% has fallen lower than 1%.