Facebook Announces Employment Inducement Grants

October 06, 2014

MENLO PARK, Calif., Oct. 6, 2014 /PRNewswire/ -- Facebook, Inc. (NASDAQ: FB) today announced that in connection with the acquisition of WhatsApp and the employment of Jan Koum as WhatsApp's Chief Executive Officer and Brian Acton as WhatsApp's Co-Founder and Vice President, Facebook's board of directors, including a majority of its independent directors, awarded employment inducement grants to Mr. Koum and Mr. Acton of 24,853,468 and 12,621,803 restricted stock units (RSUs) covering shares of Facebook's Class A common stock, respectively, each pursuant to a Non-Plan Restricted Stock Unit Award Agreement. The RSUs are subject to a four-year quarterly vesting schedule, with approximately 20% of the RSUs vesting on November 15, 2015 and, following such date, with respect to the first eight quarterly vesting dates, 1/20th of the RSUs shall vest on each quarterly vesting date, and with respect to the last four quarterly vesting dates, approximately 1/10th of the RSUs shall vest on each quarterly vesting date, subject in each case to Mr. Koum and Mr. Acton's continued service through each vesting date. In each case, the RSUs vest in full in the event Mr. Koum or Mr. Acton's employment is terminated without cause or if Mr. Koum or Mr. Acton terminate their employment for good reason. The inducement RSUs to Mr. Koum and Mr. Acton were not approved by Facebook's stockholders and were granted as an inducement material to Mr. Koum and Mr. Acton's employment in accordance with NASDAQ Listing Rule 5635(c)(4).

About Facebook

Founded in 2004, Facebook's mission is to give people the power to share and make the world more open and connected. People use Facebook to stay connected with friends and family, to discover what's going on in the world, and to share and express what matters to them.

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Deborah Crawford
investor@fb.com / investor.fb.com

Vanessa Chan
press@fb.com / newsroom.fb.com

SOURCE Facebook

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