Snap's annual report reminds investors just how much power CEO Evan Spiegel has [CNBC]
Snap Inc. Class A (SNAP)
Last snap inc. class a earnings: 4/21 04:10 pm
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investor.snap.com/company-profile
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Source: CNBC
Michael Nagle | Bloomberg | Getty Images Evan Spiegel, co-founder and chief executive officer of Snap Inc., stands on the floor of the New York Stock Exchange during the company's initial public offering on Thursday, March 2, 2017. Snap released its first annual report as a public company on Thursday, and the report revealed just how much power is behind CEO Evan Spiegel. Spiegel's salary — minus hefty stock awards — comes out to only $1. But he controls 48.4 percent of total voting power for the company, the annual report reveals. Spiegel's post-IPO bonus was worth $637 million and represented 3 percent of the total shares outstanding at the time of the IPO. It will be paid out over three years, tightening his control of the stock over time. But there is no continuing service requirement for Spiegel, the compensation description said, even though at least one other executive faces a vesting period of more than a decade for stock awards.
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- 4/18/24 - Form 4
- 4/18/24 - Form 10-Q
- SNAP's page on the SEC website