Snap CEO Spiegel receives $638 million in compensation for IPO year

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(Reuters) – Snap Inc Chief Executive Officer Evan Spiegel received $637.8 million as total compensation during 2017, the year the company went public, according to a security filing on Thursday.

The figure is based on stock-based awards worth $636.6 million and salary and other compensation worth about $1.2 million. (bit.ly/2ohmPC6)

FILE PHOTO: Snap cofounder Evan Spiegel waits to ring the opening bell of the New York Stock Exchange (NYSE) with NYSE Group President Thomas Farley shortly before the company’s IPO in New York, U.S., March 2, 2017. REUTERS/Lucas Jackson

Spiegel, the 27-year-old Snap co-founder, earned $503,205 in salary during 2016, and a $1 million bonus.

Imran Khan, Snapchat’s chief strategy officer hired from investment bank Credit Suisse Group AG in 2014, received total compensation of $100.6 million in 2017. He earned $241,539 in 2016 and a $5.2 million bonus.

(This story corrects Spiegel’s age to 27 from 26 in paragraph 3)

Reporting by Munsif Vengattil in Bengaluru; Editing by Shounak Dasgupta

Our Standards:The Thomson Reuters Trust Principles.

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