Christopher Cox

About Christopher Cox

Christopher K. Cox is Chief Product Officer at Meta Platforms, Inc., serving in this role from 2014–2019 and again from 2020–present; he previously held Vice President, Product (2009–2014) and earlier roles (2005–2009). He is 42 years old and holds a B.S. in Symbolic Systems with a concentration in artificial intelligence from Stanford University . Company performance during 2024 included revenue of $164.50 billion (+22% YoY), operating income of $69.38 billion (42% margin), net income of $62.36 billion, and cumulative TSR of $286.35 for the 12/31/2019–12/31/2024 measurement period .

Past Roles

Organization	Role	Years	Strategic Impact
Meta Platforms, Inc.	Chief Product Officer	2014–2019; 2020–present	Not disclosed in proxy
Meta Platforms, Inc.	Vice President, Product	2009–2014	Not disclosed in proxy
Meta Platforms, Inc.	Various roles	2005–2009	Not disclosed in proxy

External Roles

Organization	Role	Years	Strategic Impact
—	None disclosed (no current or recent public company directorships)	—	—

Fixed Compensation

Metric	2022	2023	2024
Base Salary ($)	893,846	936,346	996,289
Target Bonus (% of Salary)	—	75%	75%
Actual Bonus Paid ($)	940,214	1,053,392	923,799

2024 salaries for named executive officers were increased to align closer to peer medians; Cox’s base salary moved to $995,000 (approved) with actual earnings of $996,289 due to payroll timing .
Starting with 2025, target bonus for named executive officers (excluding CEO) increased to 200% of base salary (from 75%) to position total cash around the 50th percentile of the updated 2025 peer group .

Performance Compensation

Annual Bonus Plan (2024)

Metric	Weighting	Target	Actual	Payout to Cox	Vesting/Payout Timing
Company Performance % (based on 2024 priorities)	100%	100%	125%	$923,799	Paid annually (for 2024 performance)

2024 priorities: Build awesome things; Make our business successful; Make progress on societal issues; Go out and tell our story. No specific weights or dollar targets assigned; committee exercised judgment informed by launches (e.g., Llama 3, Instagram Teen Accounts), scaling Meta AI, strong engagement, and 22% revenue growth to set Company Performance % at 125% .
Pay-versus-performance disclosure identifies “Revenue” as the selected financial measure used to link compensation actually paid to performance; however, bonus plan did not assign explicit metric weightings .

Equity Awards (RSUs)

Grant	Approval Date	Grant Date	Shares	Grant-Date Fair Value ($)	Sizing Basis	Vesting Start	Vesting Schedule
2024 RSU (Cox)	3/18/2024	3/20/2024	42,870	21,671,642 (at $505.52/share)	Initial equity value $20,000,000 sized at $466.53/share (Q4’23 post-earnings average), rounded up	5/15/2024	1/16 quarterly thereafter, subject to continued service

Program design is heavily weighted to RSUs with service-based vesting; no PSUs or options disclosed for named executive officers .

Equity Ownership & Alignment

Beneficial Ownership (as of April 1, 2025)

Holder	Class A Shares	Class B Shares	% of Class A	% Total Voting Power	Notes
Christopher K. Cox	360,632	—	<1%	<1%	Includes 288,686 Class A held by Cox Revocable Trust; 55,046 by Cox‑Vadakan Irrevocable Remainder Trust; 16,900 RSUs settleable within 60 days of April 1, 2025

Stock ownership guidelines require executive officers to own the lesser of 24,400 shares or $4.0 million within five years or by September 2023; if below thresholds due to factors beyond control, sales limited to ≤50% of newly acquired shares until compliance. As of December 31, 2024, all executive officers met or were within permitted time to attain required ownership .
Hedging, short sales, margin accounts, and pledging are prohibited unless approved by the compensation committee; no pledging disclosed for Cox (Zuckerberg has a board-approved capped pledging arrangement) .
Options: Company reports no outstanding options; equity is issued primarily as RSUs .

Vested vs. Unvested and Vesting Pressure

Measure	2022	2023	2024
Shares Acquired on Vesting (Cox)	—	—	122,143
Value Realized on Vesting ($)	—	—	61,466,243

Outstanding unvested RSUs at 12/31/2024 for Cox: 34,832 from 2024 grant; 61,119 from 2023; 27,352 from 2022; 4,721 from 2021. All vest 1/16 quarterly (some earlier grants started as noted) .
2024 grant began vesting 5/15/2024; 3 quarterly tranches vested during 2024 totaling 8,038 shares, with 34,832 remaining unvested at year-end .

Employment Terms

Term	Detail
Offer Letter	Effective June 2020; at-will employment
Current Role & Salary	CPO; annual base salary $995,000 as of 12/31/2024; actual salary earned $996,289 in 2024
Bonus Eligibility	Eligible for annual bonus under Bonus Plan; 2024 target 75% of salary; 2025 target increased to 200%
Severance	None disclosed; at-will employment
Change-of-Control	Named executive officers are not entitled to payments or equity acceleration upon termination or change in control; beneficiaries are entitled to cash-out of outstanding unvested RSUs upon death (cap $2,000,000 per officer). Mr. Olivan may have local-law entitlements
Clawback	Compensation Recoupment Policy for incentive-based compensation in event of accounting restatement (see 10-K Exhibit 97.1)
Other Policies	Prohibitions on hedging, short sales, margin accounts, and pledging (unless approved)

Performance Compensation Details

Element	Description	Metrics/Weighting	2024 Outcomes
Annual Cash Bonus	Company performance-based payout only; no individual modifier	Four priorities; no explicit weights; committee judgment	Company Performance % set at 125% given launches, AI scaling, engagement, and 22% revenue growth; Cox payout $923,799
Equity (RSUs)	Service-based vesting; four-year quarterly schedule	N/A (service-based)	2024 grant 42,870 RSUs; fair value $21,671,642; initial vest 5/15/2024; quarterly thereafter

Compensation Structure Analysis

Equity-heavy mix: Meta delivers the substantial majority of executive compensation via RSUs with service-based vesting; cash compensation is generally below peer market (target total direct compensation ~75th percentile when equity included) .
Bonus design: Shift from 75% to 200% target bonus starting in 2025 increases cash-at-risk, potentially reducing reliance on equity for retention, while aligning total cash near peer median; plan remains judgment-based without fixed metric weightings .
Clawback and risk: Compensation risk assessment concluded programs are not reasonably likely to have a material adverse effect; clawback policy in place for restatements .

Related Party Transactions and Perquisites

Cox “All Other Compensation” included personal security services and associated tax gross-ups in 2023 and 2022; 2024 showed personal security costs and 401(k) matching contributions (no tax gross-up noted for Cox in 2024) .
No related-party transactions disclosed involving Cox; broader related-party transactions summarized for other executives and directors (e.g., Broadcom) are reviewed under policy oversight .

Investment Implications

Alignment/Retention: Cox’s significant unvested RSU balance across 2021–2024 grants and 4-year schedules supports retention; ownership guidelines and prohibitions on hedging/pledging (with no Cox pledges disclosed) reinforce alignment with shareholders .
Selling Pressure: 2024 vesting of 122,143 shares with $61.5 million realized indicates ongoing quarterly liquidity from RSU settlements; continued vesting through 2025–2028 could sustain supply, though actual selling depends on personal decisions and policy windows .
Pay-for-performance: Bonus plan links payouts to company-wide progress with committee judgment; 2024’s 22% revenue growth and AI product momentum drove a 125% company performance outcome. With 2025 target bonus at 200% of salary, cash variability—and scrutiny on qualitative performance assessment—will increase .
Change-of-control/severance: Absence of severance and CoC acceleration for named executive officers reduces transaction-related payout risk and potential entrenchment concerns; death benefit RSU cash-out capped at $2 million limits contingent liabilities .
Company performance context: Strong 2024 financials (revenue $164.50B, net income $62.36B) and cumulative TSR of $286.35 since 2019 support the efficacy of equity-heavy incentives over Cox’s tenure in product leadership roles .

Note: Insider Form 4 activity is not included in the proxy; additional analysis of real-time insider transactions would require current Form 4 data outside this filing.