Snap CEO's security detail cost the company $890,399

pulse

February 2, 2017 11:13 PM

The 26-year-old chief executive earned a $503,205 salary, according to the SEC filing, plus a $1 million bonus.

Evan Spiegel.

Snap made its IPO filing public on Thursday, revealing that it generates over $400 million in annual sales and has an average of 158 million people using its namesake app on a daily basis.

It also revealed some information on executive compensation.

His total salary for the year of $2.4 million also includes the $890,399 that the company pays for a security detail.

Of note, Spiegel's base salary will be reduced to $1 when Snap's IPO is registered and his bonus will be based on the company achieving performance criteria agreed upon by the board. By taking a $1 salary, Spiegel is following in the footsteps of other tech company founders like Google's Larry Page and Facebook's Mark Zuckerberg.

Spiegel holds 21.8% of class A shares, 2% of class B shares, and 50% of class C shares.

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