META PLATFORMS, INC., DEF 14A filed on 4/19/2024
Proxy Statement (definitive)
v3.24.1.u1
Cover
 12 Months Ended
Dec. 31, 2023
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Meta Platforms, Inc.
Entity Central Index Key 0001326801
v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100 Investment Based on:
Year
Summary Compensation Table Total for PEO(1) ($)
Compensation Actually Paid to PEO(2) ($)
Average Summary Compensation Table Total for Non-PEO Named Executive Officers(3) ($)
Average Compensation Actually Paid to Non-PEO Named Executive Officers(4) ($)
Total Shareholder Return(5) ($)
Peer Group Total Shareholder Return(5) ($)
Net Income (in millions)(6) ($)
Company Selected Measure: Revenue (in millions)(7) ($)
202324,399,968 24,399,968 24,003,922 77,536,724 172.45 213.58 39,098 134,902 
202227,110,418 27,110,418 22,143,280 (35,363,497)58.63 134.83 23,200 116,609 
202126,823,061 26,823,061 28,767,166 50,016,225 163.87 197.74 39,370 117,929 
202025,288,265 25,288,265 31,657,818 68,218,615 133.09 148.57 29,146 85,965 
      
Company Selected Measure Name Revenue      
Named Executive Officers, Footnote Compensation for our PEO, Mark Zuckerberg, reflects the amounts reported in the section entitled “—2023 Summary Compensation Table” above for the respective years. Average compensation for non-PEO named executive officers (non-PEOs) reflects the average of the amounts reported in the Summary Compensation Table for the following named executive officers in each respective year: (i) in 2023, Susan Li, Christopher K. Cox, Javier Olivan, and Andrew Bosworth, (ii) in 2022, Ms. Li, Mr. Olivan, Mr. Bosworth, Mr. Cox, Sheryl K. Sandberg, and David M. Wehner, (iii) in 2021, Ms. Sandberg, Mr. Wehner, Mr. Cox, and Marne Levine, and (iv) in 2020, Ms. Sandberg, Mr. Wehner, Mike Schroepfer, and Mr. Cox.      
Peer Group Issuers, Footnote TSR is cumulative for the measurement periods beginning on December 31, 2019 and ending on December 31 of each of 2023, 2022, 2021, and 2020, respectively, calculated in accordance with Item 201(e) of Regulation S-K. The peer group for purposes of this table for each of 2023, 2022, 2021, and 2020 is the same as our Peer Group as set forth above in the section entitled "—Compensation Discussion and Analysis—Compensation-Setting Process" except for 2020, which included ViacomCBS, which was removed in 2021 as it no longer met the minimum criteria described in such section.      
PEO Total Compensation Amount $ 24,399,968 $ 27,110,418 $ 26,823,061 $ 25,288,265
PEO Actually Paid Compensation Amount 24,399,968 27,110,418 26,823,061 25,288,265
Non-PEO NEO Average Total Compensation Amount 24,003,922 22,143,280 28,767,166 31,657,818
Non-PEO NEO Average Compensation Actually Paid Amount $ 77,536,724 (35,363,497) 50,016,225 68,218,615
Adjustment to Non-PEO NEO Compensation Footnote Average compensation “actually paid” to our non-PEOs equals the respective totals set forth in the "Average Summary Compensation Table Total for Non-PEO Named Executive Officers" column after the adjustments set forth in the table below:
YearLess Stock Award Value Reported in Summary Compensation Table for the Covered Year
Plus Year-End Fair Value of Outstanding and Unvested Awards Granted in the Covered Year
Plus Year over Year Change in Fair Value of Outstanding and Unvested Awards Granted in Prior Years
Plus Fair Value as of Vesting Date of Awards Granted and Vested in the Covered Year
Plus Year over Year Change in Fair Value of Awards Granted in Prior Years that Vested in the Covered Year
Less Fair Value of Awards Forfeited during the Covered YearLess Fair Value of Incremental Dividends or Earnings Paid on Awards
Non-PEOs 202321,493,046 31,248,651 26,669,826 5,950,787 11,156,584 — — 
Fair values set forth in the table above are computed in accordance with ASC 718 as of the end of the respective fiscal year, other than fair values of awards that vest in the covered year, which are valued as of the applicable vesting date.
      
Compensation Actually Paid vs. Total Shareholder Return
Compensation Actually Paid vs. Company TSR
The following graph illustrates the relationship between (i) compensation actually paid to our PEO and non-PEOs and (ii) company TSR for the measurement periods beginning on December 31, 2019 and ending on December 31 of each of 2023, 2022, 2021, and 2020, respectively, calculated in accordance with Item 201(e) of Regulation S-K:
CAP vs Company TSR (2023)_FINAL.jpg
      
Compensation Actually Paid vs. Net Income
Compensation Actually Paid vs. Net Income
The following graph illustrates the relationship between (i) compensation actually paid to our PEO and non-PEOs and (ii) our net income for the fiscal years ended on December 31, 2023, 2022, 2021, and 2020:
CAP vs NI (2023)_FINAL.jpg
      
Total Shareholder Return Vs Peer Group
Company TSR vs. Peer Group TSR
The following graph illustrates the relationship between (i) company TSR and (ii) Peer Group TSR, each calculated for the measurement periods beginning on December 31, 2019 and ending on December 31 of each of 2023, 2022, 2021, and 2020, respectively, and calculated in accordance with Item 201(e) of Regulation S-K:
Company TSR vs Peer TSR (2023).jpg
      
Tabular List, Table
Financial Performance Measure
Revenue
      
Total Shareholder Return Amount $ 172.45 58.63 163.87 133.09
Peer Group Total Shareholder Return Amount 213.58 134.83 197.74 148.57
Net Income (Loss) $ 39,098,000,000 $ 23,200,000,000 $ 39,370,000,000 $ 29,146,000,000
Company Selected Measure Amount 134,902,000,000 116,609,000,000 117,929,000,000 85,965,000,000
PEO Name Mark Zuckerberg      
Additional 402(v) Disclosure Compensation “actually paid” to Mr. Zuckerberg equals the Summary Compensation Table total for Mr. Zuckerberg because his compensation for each applicable year was $1 in base salary and the remaining portion was “All Other Compensation.”Reflects “Net Income” in our consolidated statements of income included in our Annual Reports on Form 10-K for each of the years ended December 31, 2023, 2022, 2021, and 2020.Reflects “Revenue” in our consolidated statements of income included in our Annual Reports on Form 10-K for each of the years ended December 31, 2023, 2022, 2021, and 2020.      
Measure:: 1        
Pay vs Performance Disclosure        
Compensation Actually Paid vs. Other Measure
Compensation Actually Paid vs. Revenue
The following graph illustrates the relationship between (i) compensation actually paid to our PEO and non-PEOs and (ii) our revenue for the fiscal years ended on December 31, 2023, 2022, 2021, and 2020:
CAP vs Rev (2023)_FINAL.jpg
      
Name Revenue      
Adjustment, Exclusion of Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 21,493,046      
Adjustment, Inclusion of Outstanding and Unvested Awards Granted [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 31,248,651      
Adjustment, Inclusion of Year over Year Change in Fair Value of Outstanding and Unvested Awards Granted in Prior Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 26,669,826      
Adjustment, Inclusion of Fair Value of Awards Granted and Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 5,950,787      
Adjustment, Inclusion of Year over Year Change in Fair Value of Awards Granted in Prior Years that Vested in Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 11,156,584      
Adjustment, Exclusion of Awards Forfeited [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Adjustment, Exclusion of Incremental Dividends or Earnings Paid on Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0