The stock is organized into two classes: Class A and Class B. The document states that holders of each stock will have identical rights, but each share of Class B stock is worth 10 votes while Class A stock is worth only 1. This gives holders of Class B stock more voting control of the company.
CEO Mark Zuckerberg holds 533,801,850 shares of Class B stock, giving him 28.2 percent of total voting power before the IPO — the highest in the company. However, he also has voting proxy over additional shares, bringing his total voting power to 57 percent before the IPO.
Zuckerberg earned a base salary of $500,000 in 2011, but Facebook's compensation committee accepted his request to reduce his salary to $1 in 2013. Some executives adopt this strategy to instead receive compensation through stock options.
The filing revealed that the eight-year-old company earned $3.7 billion in revenue in 2011, $1.9 billion in 2010 and $777 million in 2009. The company's net income was $1 billion in 2011, $606 million in 2010 and $229 million in 2009.
Facebook's ticker symbol will be FB.
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