MENLO PARK, CALIFORNIA — Meta filed forms with the U.S. Securities and Exchange Commission detailing a two-part incentive system for six executives. The incentive system covers Chief Technology Officer Andrew Bosworth, Chief Financial Officer Susan Li, Chief Operating Officer Javier Olivan, Chief Product Officer Chris Cox, Chief Legal Officer C.J. Mahoney, and President Dina Powell McCormick.

The six executives will receive an increased number of restricted stock units that vest over time, according to the SEC forms. They will also receive tens of thousands of stock options that give them the right to purchase shares at specified future price targets.

The stock options have an expiration deadline of March 2031. The conversion price for the stock options ranges from $1,116.08 to $3,727.12, according to the forms.

Exercising the highest-priced stock options would require Meta's market capitalization to exceed $8 trillion based on current shares outstanding. The stock options could yield paydays of up to $2.7 billion for executives, depending on share price and exercise decisions.

Andrew Bosworth, Chris Cox, Susan Li, and Javier Olivan are set to receive the largest number of stock options, according to the forms. Meta CEO Mark Zuckerberg is not included in the proposed compensation increase.

"This is a big bet. These pay packages will not be realized unless Meta achieves massive future success, benefiting all of our shareholders," a Meta spokesperson said.

Aaron Anderson, Meta's Chief Accounting Officer, will receive approximately $3 million in restricted stock units and no stock options, according to the forms.

Meta has a market capitalization of $1.5 trillion. Meta's shares are trading at about $600 per share. Meta's share price is down nearly 3 percent over the past year.

Meta is considering major layoffs. Tesla CEO Elon Musk received a pay package valued at $1 trillion in stock over a 10-year period if he increased Tesla's market capitalization sixfold.