Meta Platforms Inc. is offering stock options to top executives for the first time since its 2012 IPO, according to company filings. The move aims to retain key leaders as Meta spends aggressively to compete in the AI race against rivals like OpenAI and Alphabet Inc.'s Google.

Chief Executive Officer Mark Zuckerberg is not included in the new compensation plan. The options will unlock if Meta stock reaches $1,116.08 per share, representing an 88% increase from Tuesday's closing price of $592.92. Additional tranches target even higher prices, with the most aggressive milestone at $3,727.12.

Meta spokesperson confirmed the options are designed to reward executives responsible for the company's most strategic initiatives. All options will be released by August 2030 regardless of stock performance and expire in five years if unexercised. The company has been offering AI researchers and executives pay packages exceeding hundreds of millions of dollars as it battles for talent in the rapidly evolving AI landscape.