Form 4: Meta Platforms Director Hock Tan Acquires 802 Restricted Stock Units

Meta Platforms director Hock Tan acquired 802 restricted stock units (RSUs) on June 17, 2024, which will vest on May 15, 2025, or earlier under certain conditions.

Summary

• Hock Tan, a director at Meta Platforms, acquired 802 restricted stock units (RSUs) on June 17, 2024.
• Each RSU represents a contingent right to receive one share of Meta's Class A Common Stock upon settlement.
• The RSUs are scheduled to vest 100% on May 15, 2025.
• However, if Meta's 2025 Annual Meeting of Shareholders occurs before May 15, 2025, and Mr. Tan does not stand for re-election or is not re-elected, the RSUs will vest on the date of the meeting.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of stock units to a director, which is generally a neutral to slightly positive event. It indicates continued alignment of interests between the director and the company.

Future Outlook

The RSUs will vest on May 15, 2025, or earlier if the 2025 Annual Meeting of Shareholders occurs before that date and Mr. Tan is not re-elected.

Industry Context

This is a standard transaction for a director of a public company, often part of their compensation package. It aligns the director's interests with those of the shareholders.

Comparison to Industry Standards

• The granting of restricted stock units to directors is a common practice among publicly traded companies, including technology firms like Meta Platforms.
• Companies such as Apple, Google (Alphabet), and Microsoft also use RSUs as part of their executive compensation packages.
• The vesting schedule of these RSUs is typical, often tied to a specific date or continued service with the company.

Stakeholder Impact

• The acquisition of RSUs by a director aligns their interests with those of shareholders, as the value of the RSUs is tied to the company's stock performance.
• This type of transaction is generally viewed positively by shareholders as it incentivizes directors to work towards the company's success.

Key Dates

Keywords

Meta Platforms, Hock Tan, Restricted Stock Units, RSU, Director, Class A Common Stock, Vesting