Snap released its Form 10-K, detailing the company’s financials for 2017. There’s a bunch to digest in the lengthy document, but one thing certainly sticks out: CEO Evan Spiegel’s compensation.
According to the tax form, Spiegel’s total compensation was $637,790,892. This includes a salary of $98,078, “other” compensation of $1,079,925, as well as a one-time stock award of $636,612,889. Compare this to 2016, when Spiegel’s entire compensation was only $2,404,840. (It’s also interesting to note that Tim Cook was awarded $378 million in stock awards when he first took Apple’s reins in 2011, which is paltry compared to Spiegel’s hearty stock compensation.)
Spiegel currently has 48.4% of the voting power over Snap, while cofounder Robert Murphy holds 47.4%. That leaves only 4.2% for everyone else. Spiegel’s voting power, combined with his over $600 million in compensation, does feel like a bit much. I’m sure investors have a lot to say about this. (If you are an investor, I’d love to hear from you!)
Recognize your brand’s excellence by applying to this year’s Brands That Matter Awards before the early-rate deadline, May 3.
