Nasdaq OMX Group Inc's chief executive Robert Greifeld's 2012 annual bonus has been slashed over the mishandling of Facebook's Inc. initial public offering last year.
In a filing with the Securities and Exchange Commission, Nasdaq said Greifeld's bonus has been slashed by 62 percent or $542,100. Nasdaq also reduced the 2012 bonus of executive vice president of Global Technology Solutions Anna Ewing by $263,625 due to the botched Facebook Inc's IPO.
The highly anticipated Facebook's IPO on May 18 was initially delayed by 30 minutes due to a technical glitch at Nasqdaq. The exchange decided to proceed with the trading using a secondary system that caused delays in many clients' orders and confirmations.
Facebook Inc's botched IPO resulted in big losses for some investors as the stock price dropped after gaining initially.
U.S. regulators approved in March Nasdaq's $62 million compensation plan for firms that lost money in Facebook's market debut. However, the amount is far less that the estimated losses of $500 million.
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