The Ledger ResearchPrivate

The Front Office

Scouting report · META

Susan Li

  • Chief Financial Officer, META since 2022-11src

Meta finance lifer since 2008; CFO since November 2022

—thin record

Not ranked yet

Scouting sheet

as of 24 Sep 2026
Delivers guidance—no promises on the record yet
Answers the question—no call reviewed yet
Capital allocation—company not reviewed yet
Pay design60strategic, time only · 89.5% for · 0.03% of net income
Skin in the game—no holding or price on file
Age
40src
In the role
4 yr
Promises scored
0
Hit rate
—
Dodges / 100 answers
—
Airtime on calls
—
Every promise, oldest firstno scored promises yet

What to weigh

Watch 4

  • Her spouse held a senior revenue role while she was CFO. The proxy disclosed it as a related-party transaction ($17.5m 2025 pay)src
  • The bonus rests on four priorities with no targets or weights ('build awesome things', 'make our business successful'...). The committee set 115% for 2025 at its judgment, in consultation with the CEO and CFOsrc
  • The target bonus was raised from 75% to 200% of salary in 2025. Equity is time-vested RSUs only (quarterly over four years), with no performance conditionsrc
  • Sold about $94.6m of stock in the open market over the twelve months to 2026-09-24, all under a 10b5-1 plan adopted 2025-02-12. She held 31,429 shares at 2026-04-01, including 18,243 RSUs due to releasesrc

In their favour 1

  • Complies with the ownership guideline (the lesser of 24,400 shares or $4.0m in value), per the proxy's statement that all executive officers met it or were within the phase-in periodsrc

Career

  1. 2022 – now
    Meta Platformssrc
    Chief Financial Officer
    Effective 2022-11-01 (DEF14A-2023)
  2. 2016 – 2022
    Meta Platforms (Facebook until 2021)src
    Vice President, Finance
  3. 2008 – 2016
    Facebooksrc
    Various finance positions
    CNBC (WS-cnbc), citing the CEO's announcement, says she helped take the company public in 2012 and ran forecasting and budgeting
  4. 2005 – 2008
    Morgan Stanleysrc
    Analyst

Achievements

  • Promoted from Vice President, Finance to CFO effective 2022-11-01, after 14 years in the company's finance teamsrc
  • The committee credited her 2022 bonus to the CFO transition, a 2023 budget with significant cost savings, the real-estate consolidation and investor engagementsrc
  • Per the CEO's announcement, helped take the company public in 2012 and oversaw forecasting and budgetingsrc
  • Director of Alaska Air Group from 2018. She left in 2023 to focus on the Meta CFO rolesrc

Education

  • Stanford University, BA Economics (2005)src
  • Stanford University, BS Mathematical & computational science (2005)src

Background

  • Family Her spouse, John Hegeman, was Meta's Chief Revenue Officer in 2025. The proxy discloses his 2025 pay as about $17.5m, a related-party item as an executive officer's immediate family member. His unvested RSUs were cancelled when he left. The Form 4s name him as her spouse and co-trusteesrc
  • Family The 2026 proxy states there are no family relationships among any directors or executive officers (Hegeman was not an executive officer)src
  • Boards Director of Alaska Air Group 2018-2023, on its Audit and Innovation committees; no current public boardsrc
  • Giving Gave 33,583 Meta shares to the Li-Hegeman Family Foundation, a charity, on 2025-11-20. She keeps voting power over the foundation's shares but has no pecuniary interestsrc

The promise ledger

No promise on the record yet: the research routine has not scored this company's guidance.

Sources

13
  1. Filing Meta Platforms DEF 14A, 2026 annual meeting (accession 0001628280-26-025532) · 2026-04-16
  2. Filing Meta Platforms DEF 14A, 2023 annual meeting (0001326801-23-000050) · 2023-04-14
  3. Filing Meta Platforms 10-Q for the quarter ended 2026-06-30, signatures (0001628280-26-050705) · 2026-07-30
  4. Filing Meta Platforms 8-K Item 5.07, 2025 annual meeting results (0001326801-25-000090) · 2025-05-30
  5. Filing SEC XBRL companyconcept us-gaap/NetIncomeLoss, CIK 1326801 (FY2025 10-K, 0001628280-26-003942) · 2026-01-29
  6. Filing Form 4, Susan J. Li (reporting CIK 1739092), RSU settlements of 2025-11-15 for her and her spouse (0000950103-25-014966) · 2025-11-18
  7. Filing Form 4, Susan J. Li, gift of 2025-11-20 to the Li-Hegeman Family Foundation (0000950103-25-015185) · 2025-11-24
  8. Filing Form 4, Susan J. Li, 10b5-1 sale of 2026-02-20 (0000950103-26-002589) · 2026-02-24
  9. Filing EDGAR submissions index for reporting owner Susan J. Li (CIK 1739092): ten Forms 4 filed 2025-11-18 to 2026-08-20, each read · 2026-09-24
  10. Web search result WebSearch: CNBC, Meta gets new CFO as David Wehner moves to chief strategy officer role (2022-07-27) · 2026-09-24
  11. Web search result WebSearch: Alaska Air Group press release, Facebook executive Susan Li joins Alaska Air Group board (2018-05-03) · 2026-09-24
  12. Web search result WebSearch: MarketScreener, Susan J. Li not to stand for re-election to the Alaska Air Group board (2023-03-24) · 2026-09-24
  13. Web search result WebSearch: Wikipedia, Susan Li (business executive): Stanford 2001-2005 · 2026-09-24