Patrick Collison
Meta PlatformsAbout Patrick Collison
Patrick Collison (age 36) joined Meta’s board in 2025 as an independent director. He is the co-founder and CEO of Stripe, with deep expertise in technology, product innovation, and founder-led company dynamics; education includes study at MIT in mathematics and physics. As of April 17, 2025, he serves without current committee assignments and was previously a member of Meta’s Advisory Group (2024–2025). Independence was affirmed despite ordinary-course commercial relationships between Meta and Stripe for payment processing services .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Stripe, Inc. | Co-founder & Chief Executive Officer; Director | 2010–present | Leadership in global financial infrastructure; product innovation |
| Meta Advisory Group | Member | 2024–2025 | External strategic advisory on technology/product roadmap |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Public company directorships | None | — | No current public company boards disclosed |
| Stripe, Inc. | Director | 2010–present | Private company; CEO & director |
Board Governance
- Committee assignments: None at appointment; Collison is currently not a member of Audit & Risk Oversight, Compensation, Nominating & Governance, or Privacy & Product Compliance .
- Independence: Board determined Collison is independent under Nasdaq rules; considered Meta’s advertising relationships and payments to Stripe for payment processing in ordinary course (standard terms) and found no impairment of independent judgment .
- Attendance and engagement: Meta’s board held 12 meetings in 2024; no incumbent directors <75% attendance. Collison joined in 2025, so 2024 attendance stats don’t apply to him .
- Lead Independent Director and executive sessions: Robust role and frequent executive sessions led by Lead Independent Director (Ambassador Kimmitt) bolster independent oversight in a controlled company structure .
- Controlled company status: Meta is a Nasdaq “controlled company,” but maintains majority-independent board and independent committees by choice .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (Board) | $50,000 | Paid quarterly in advance; prorated for new directors |
| Lead Independent Director additional retainer | $150,000 | Not applicable to Collison unless designated |
| Audit & Risk Oversight – Chair | $50,000 | Not applicable to Collison unless appointed |
| Audit & Risk Oversight – Member | $20,000 | Not applicable unless appointed |
| Compensation, Nominating & Governance – Chair | $25,000 | Not applicable unless appointed |
| Compensation, Nominating & Governance – Member | $10,000 | Not applicable unless appointed |
| Privacy & Product Compliance – Chair | $50,000 | Not applicable unless appointed |
| Privacy & Product Compliance – Member | $20,000 | Not applicable unless appointed |
| Excess meeting fee (per meeting >4/year) | $4,000 | Applies to Board and committee meetings (except Mr. Andreessen) |
- Deferred Compensation: Non-employee directors may defer cash fees and/or RSUs (lump sum or up to 10 annual installments, paid after separation or at a specified date) .
- Director security: Personal security services and related tax gross-ups may be provided and are excluded from the $1.0M director compensation limit calculation .
Performance Compensation
| Equity Award | Initial Equity Value | Vesting | Timing/Eligibility |
|---|---|---|---|
| Annual RSU grant (standard) | $375,000 | Vests fully on the earlier of May 15 of following year or next annual meeting date if not re-elected | Granted automatically on the later of June 1 or the annual meeting date; Mr. Andreessen receives $300,000 per his waiver |
| Initial RSU grant (prorated annual) | $375,000 prorated | Vests fully on the earlier of next May 15 or next annual meeting date if not re-elected | For new directors appointed between annual meetings |
| Initial RSU grant (one-time) | $1,000,000 | 16 equal quarterly installments over ~4 years | Granted at time of appointment to new directors |
- Compensation cap: Non-employee director compensation limited to $1,000,000/year (first year limit $2,000,000 to accommodate initial grants) .
- Change-in-control: Vesting of outstanding awards to non-employee directors accelerates in full prior to consummation of change-in-control if not assumed/substituted .
- Clawback: Awards subject to cancellation/recoupment under Meta’s Compensation Recoupment Policy and applicable laws/stock exchange rules .
- Repricing: Under the 2025 Equity Incentive Plan, underwater options/SARs cannot be repriced, canceled for replacement awards, or repurchased for cash without shareholder approval .
Other Directorships & Interlocks
| Entity | Relationship to Collison/Meta | Nature of Dealings | Independence Determination |
|---|---|---|---|
| Stripe, Inc. | Collison is CEO & director | Meta pays Stripe for payment processing; Stripe purchases advertising in ordinary course under standard terms | Board determined such arrangements do not impair Collison’s independence |
- Broader related-party context: Meta paid ~$987 million to Broadcom in 2024 (CEO Hock Tan is a Meta director)—included for governance context (not Collison-specific), reviewed under related-party policies .
Expertise & Qualifications
- Extensive leadership, entrepreneurship, and product innovation experience as CEO/co-founder of a large technology company (Stripe) .
- Deep understanding of technology industry dynamics and founder-led company management .
- Education: Attended MIT (mathematics and physics) .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | Class B Shares Beneficially Owned | % Total Voting Power |
|---|---|---|---|
| Patrick Collison | — | — | — |
- Stock ownership guidelines: Non-employee directors must own the lesser of 4,570 shares or $750,000 in value by the later of May 2025 or five years from becoming a director; directors within the permitted time window to attain required ownership are compliant under policy as of Dec 31, 2024. Collison, appointed in 2025, is subject to the five-year compliance window .
Governance Assessment
- Board effectiveness and refreshment: Collison joins a recently refreshed board with strong independent oversight, executive sessions, and a robust evaluation process facilitated by third parties—supportive of investor confidence .
- Independence and potential conflicts: Ordinary-course commercial ties with Stripe were specifically reviewed; independence affirmed. Monitoring advisable given Collison’s leadership role at a key vendor partner (payments) .
- Engagement and attendance: Meta’s board attendance was strong in 2024; Collison’s engagement will be evidenced through committee appointments and participation over 2025–2026 .
- Pay-for-performance alignment: Director pay is primarily time-based RSUs and retainers—appropriate for board oversight roles; change-in-control acceleration is standard but should be monitored for alignment optics .
- Policy signals: Presence of director security services and tax gross-ups (provided in certain cases) is a shareholder-skeptical feature; however, they are excluded from compensation limits and disclosed transparently .
- Controlled company context: Despite controlled status, Meta maintains majority-independent board and independent committees, with a strong Lead Independent Director—important governance mitigants .