Facebook’s First-Year General Counsel Earns $19 Million
“Facebook Inc. general counsel Jennifer Newstead earned nearly $19.14 million in total compensation in her first year with the social media giant, according to a 2019 proxy statement filed by the company April 10,” reports Brian Baxter in Bloomberg Law’s Benefits & Executive Compensation News.
“Newstead did not immediately respond to a request for comment about her pay package, which was comprised of a $353,077 base salary, $2.29 million in bonuses, and $16.31 million in stock awards for 2019.”
“Facebook’s proxy said it agreed to give a $4 million sign-on bonus to Newstead after hiring her in May of last year to succeed Colin Stretch as general counsel. Newstead received $2 million of that bonus within 30 days of joining the company and was paid another $1 million by Jan. 31. She will get the remaining $1 million if she remains with Facebook for 30 days after the one-year anniversary of her start date.”
