Griefeld saw his incentive pay out for 2012 cut by the firm’s remuneration committee by $542,100 ( £352,329) due to the debacle, according to a regulatory filing. The discretionary pay cut helped reduce his total bonus by 62 per cent, giving him a total reward of $1.35m, on top of a $1m base salary. The company’s executive vice president of global technology Anna Ewing also saw $263,625 taken from her pay packet due to the Facebook incident.
The mishandling of the float was caused by a glitch that meant brokers could not see if they had bought Facebook stock or not. US regulators sanctioned a higher compensation payout to affected parties last month.
Yesterday’s filing said: “The committee and board explicitly considered the Facebook IPO in connection with their review and determination of these reduced payouts.”