Musk in a securities filing on April 14 had said he did not have confidence in Twitter’s management
Twitter Inc CEO Parag Agrawal would get an estimated $42 million (roughly Rs 320 crore) if he were terminated within 12 months of a change in control at the social media company, according to research firm Equilar.
On Monday billionaire Elon Musk struck a deal to buy Twitter for $44 billion, ending its run as a public company since 2013.
Musk in a securities filing on April 14 had said he did not have confidence in Twitter’s management.
Equilar’s estimate includes a year’s worth of Agrawal’s base salary plus accelerated vesting of all equity awards, an Equilar spokesperson said, based on Musk’s offering price of $54.20 per share and terms in the company’s recent proxy statement.
On Monday billionaire Elon Musk struck a deal to buy Twitter for $44 billion, ending its run as a public company since 2013.
A Twitter representative declined to comment on Equilar’s estimate.
Agrawal, previously Twitter’s chief technology officer, was named CEO in November. His total compensation for 2021 was $30.4 million, according to Twitter’s proxy, largely in stock awards.
Parag Agrawal told employees on Monday that the future of the social media firm is uncertain after the deal. He was speaking to a town hall meeting.
“Once the deal closes, we don’t know which direction the platform will go,” Agrawal said.
Agrawal said in a tweet “Twitter has a purpose and relevance that impacts the entire world“Deeply proud of our teams and inspired by the work that has never been more important,” he added
Musk will join Twitter staff for a question-and-answer session at a later date, the company told employees.
******************************************************************
Readers
These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.
Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world. We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.
Please help us to keep our journalism independent and free.
In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.
For more information: pravasisamwad00@gmail.com