x.com/gabriel_zucman/status/2113231341592469505
1 correction found
has signed an agreement to remain in California for 8 years
The filing does not bind Zuckerberg to California only. It says he must remain a resident of California or any other jurisdiction where Meta keeps its corporate headquarters, and it includes conditions and an exception for unforeseen circumstances.
Full reasoning
The SEC filing language is narrower and more conditional than this post says.
The PRE 14C filing states that Zuckerberg committed, for eight years, to remain a resident of "California, or any other jurisdiction in which the Company maintains its corporate headquarters". It also says this applies for so long as the Continued Leadership Condition is satisfied and includes an exception for "material unforeseen circumstances" that would make living elsewhere prudent or advisable.
In other words, the agreement is not simply a flat promise to remain in California for eight years. The filing allows residence in another jurisdiction if Meta's headquarters are there, and the obligation is conditional rather than absolute.
2 sources
- Form PRE 14C - Other preliminary information statements
Zuckerberg has also separately committed, for eight years following the date of the Founder Alignment Agreement, and so long as the Continued Leadership Condition is met, to remain a resident of California or any other jurisdiction in which the Company maintains its corporate headquarters, absent material unforeseen circumstances rendering it prudent or advisable for him to reside elsewhere.
- Form PRE 14C - Other preliminary information statements
Mr. Zuckerberg’s commitment to remain a resident of California, or any other jurisdiction in which the Company maintains its headquarters, for eight years from the date of the Founder Alignment Agreement, for so long as Mr. Zuckerberg satisfies the Continued Leadership Condition, unless there are material unforeseen circumstances that would render it prudent or advisable for Mr. Zuckerberg to reside elsewhere.