Yes, it was almost a year ago that the Facebook (NASDAQ:FB) IPO debacle took place on Nasdaq OMX (May 18, 2012).?
As a result, the exchange’s chief executive officer Robert Greifeld saw his last year’s bonus slashed by 62 percent. Don’t feel bad, the executive still made?$8.9 million in 2012 from his salary, stock awards and a ?non-equity incentive plan compensation? of $1.35 million; this is lower than 2011’s $3.59 million bonus and total compensation of $7.6 million, reported The New York Times.?
The news of this slashing came to light in a Thursday securities filing by Nasdaq OMX’s board of directors?management compensation committee and the board. Language regarding the cut included that the group ?explicitly considered the Facebook I.P.O. in connection with their review and determination of these reduced payouts. ?
Joining Greifeld in a pay cut was?Anna Ewing, executive vice president of global technology solutions. Her bonus had been cut by 53 percent to $574,125.
The exchange said problems on that day occurred from “system issues” and as a result, it?has promised $62 million in payments to affected member firms who incurred losses from the day in question.?
Last summer, Greifeld apologized with the following,”We deeply regret the problems encountered during the initial public offering of Facebook, We failed to meet our own high standards based on our long history of providing outstanding technology to our members and exchange customers. We have learned from this experience and we will continue to improve our trading platforms.??