As expected, Facebook today closed its $19 billion acquisition of WhatsApp following approval from European regulators.
According to a public filing with the SEC, WhatsApp cofounder Jan Koum will continue to serve as the company’s chief executive, “will receive an annual base salary of $1,” and “will not be eligible for a bonus under the company’s bonus plan.” Koum’s new salary mirrors the base salaries of numerous high-profile tech CEOs, including Mark Zuckerberg, Steve Jobs, Sergey Brin, and Larry Page.
Koum will, however, receive “an inducement grant” of 24,853,468 restricted stock units (RSUs). Facebook details that Koum’s shares will vest quarterly over the next four years, “with approximately 20% of the RSUs vesting on November 15, 2015.”
The closure of Facebook’s WhatsApp deal comes more than seven months after Facebook first announced the acquisition. For more, here’s Facebook’s public SEC filing in full: